TGIF: Do Fridays Foretell Future Movements in Bitcoin Price and Other Crypto?

TGIF: Do Fridays Foretell Future Movements in Bitcoin Price and Other Crypto?

According to one legendary trader, where an asset closes on a Friday can often predict the future performance of the asset. Is there any truth to the theory that could benefit crypto traders? Recent performance appears to suggest there’s validity to support the idea. Gann You Beleive It? Fridays May Predict The Future of Bitcoin Price

Investors and traders of crypto assets like Bitcoin , or any financial asset for that matter, often use detailed fundamental and technical analysis to attempt to predict the future performance of the asset they’re interested in.

Related Reading | Gann Theory Suggests Bitcoin Price at “Do or Die” Moment, Important Pivot Ahead

However, there’s also a smaller subset of analysts that use other alternative and more unorthodox methods to gain an advantage in the market. One such method involves paying close attention to specific dates and points in time as an indicator of future price movements, and where the price of an asset closes on Fridays may be among one of the most useful indicators yet.

William Delbert Gann was a legendary stock market and commodities trader born in the late 1800s, long before computer programs offering technical analysis software or trading bots were ever invented. Instead of relying on adding indicators and buy or sell signals to TradingView charts, Gann would instead use geometrical shapes, math, and even astrology to predict future movements in financial assets.

His beliefs were that all markets were cyclical and that certain planetary alignments would occur on “ […]