BTC Trend Weekly w/ 9.86PF & 64%WR Backtest and some info
Hello everyone,
The strategy currently indicates a bullish trend on a 6-hour timeframe.
Regarding the Backtest (1/1/2016 - Present, spanning 8 years):
Profitability and Drawdown: The strategy exhibits a 64% success rate with a profit factor of 9.86, demonstrating robustness, as the profitable trades are, on average, nearly ten times larger than the losing ones. The maximum drawdown is recorded at 11.88% of the account, which is considered manageable within the realm of trading. *Each bet employs a consistent amount of capital.
* Should there be an opportunity to enhance the strategy, I reserve the right to do so and will provide updates on the portfolio accordingly.
Liquidation Status:
Integrating this backtest data with the recent clearance of bearish positions, alongside significant bullish bets at the levels of 46,470 (150 million), 44,518 (230 million), and 41,865 (810 million), we can deduce a robust bullish sentiment within the market. The liquidation of bearish positions suggests that short-term negative wagers against Bitcoin have been ousted, potentially due to unforeseen bullish momentum or favorable news.
The specified levels at which substantial bullish investments have been made are likely to serve as key support zones. The substantial trade volume at these price points is indicative of strong market confidence. Nonetheless, the advisory to "sell the news" implies that the current uptrend may be subject to correction should the recent developments fail to sustain the rally's momentum.
As a trader or investor, one should:
Monitor the Support Levels: The mentioned price points of 46,470; 44,518; and 41,865 should be closely watched for any signs of price stabilization or reversal patterns.
Set Clear Targets and Stops for your big position: To manage risk effectively, set a clear profit target and stop-loss level before entering a trade.
The strategy currently indicates a bullish trend on a 6-hour timeframe.
Regarding the Backtest (1/1/2016 - Present, spanning 8 years):
Profitability and Drawdown: The strategy exhibits a 64% success rate with a profit factor of 9.86, demonstrating robustness, as the profitable trades are, on average, nearly ten times larger than the losing ones. The maximum drawdown is recorded at 11.88% of the account, which is considered manageable within the realm of trading. *Each bet employs a consistent amount of capital.
* Should there be an opportunity to enhance the strategy, I reserve the right to do so and will provide updates on the portfolio accordingly.
Liquidation Status:
Integrating this backtest data with the recent clearance of bearish positions, alongside significant bullish bets at the levels of 46,470 (150 million), 44,518 (230 million), and 41,865 (810 million), we can deduce a robust bullish sentiment within the market. The liquidation of bearish positions suggests that short-term negative wagers against Bitcoin have been ousted, potentially due to unforeseen bullish momentum or favorable news.
The specified levels at which substantial bullish investments have been made are likely to serve as key support zones. The substantial trade volume at these price points is indicative of strong market confidence. Nonetheless, the advisory to "sell the news" implies that the current uptrend may be subject to correction should the recent developments fail to sustain the rally's momentum.
As a trader or investor, one should:
Monitor the Support Levels: The mentioned price points of 46,470; 44,518; and 41,865 should be closely watched for any signs of price stabilization or reversal patterns.
Set Clear Targets and Stops for your big position: To manage risk effectively, set a clear profit target and stop-loss level before entering a trade.
Watch patiently/ then trade