Categories: Bitcoin Latest News

This Bitcoin Indicator Turned $5 Into $34,000

Everyone is looking for an edge when trading crypto. In a new video, a Bitcoin indicator designed for finding precise market turning points is used to turn $5 into $34,000.

The results are a shocking 88% success rate and more than 679,000% ROI. Let’s take a closer look.

About The Bitcoin Indicator Used: Fisher Transform

The Fisher TransformFisher Transform was created by John Elhers and first mentioned in the November 2002 Issue of Technical Analysis of Stocks and Commodities Magazine. The tool attempts to make sense of unpredictable price movements by using statistics.

The indicator takes price data and transforms it into a Gaussian normal distribution. All this means is that the tool tries to make the price data look like a more organized pattern that can be easier to understand.

In addition to using the tool’s turning points for buy and sell signals, passing through the zero line is also a sign that a trend is strengthening. While the tool is highly effective, combining its signals with Japanese candlesticks, chart patterns, and Elliott Wave Principle can improve results.

Turning $5 Of Bitcoin Into $34,000

In the video, the monthly Fisher Transform is used to generate buy and sell signals when the trigger line crosses above the fisher line from below or above, respectively.

The tool makes several bad trades. It notably loses some money it has earned on the way up at the second Bitcoin top in 2021. Despite a couple slip ups, the Fisher Transform turns $5 into $34,000 in the end. Over $30,000 is added during the best trade.

This translates to roughly a 679,000% ROI over the lifetime of BTCUSD price history. The shocking return is a reminder for investors and traders to find a technical system that works and then let it do its thing. Objective, non-discretionary trading systems may be boring but take emotions and bias out of the equation.

[#item_full_content]NewsBTCRead More

Recent Posts

Bitcoin Jumps to $99K as Spiking Coinbase Premium Points to Strong U.S. Buying

Bitcoin (BTC), which had traded in a tight range for most of Wednesday, suddenly surged…

37 minutes ago

Fed Chair Jerome Powell Is Correct: Bitcoin Is In Competition With Gold, Not The Dollar

Follow Nikolaus On 𝕏 Here For Daily Posts Today, the Chairman of the Federal Reserve,…

37 minutes ago

Ether Rises 8% Amid Slumping Bitcoin Dominance

Having long lagged behind bitcoin (BTC) in terms of price action, ether (ETH) saw some…

2 hours ago

Bitcoin Developers Move to Gauge Consensus on Covenants Soft Forks

A small, but significant development in Bitcoin’s much-debated decentralized consensus process is taking place, with…

2 hours ago

The Protocol: Bitcoin Gets a DEX, Union Labs Gets $12M

Welcome to The Protocol, CoinDesk's weekly wrap-up of the most important stories in cryptocurrency tech…

3 hours ago

MSTR vs. BTC

After the election, as everyone except for muggles know, the price of BTC rallied to…

5 hours ago