First off a quick CQFModel update (for info follow my twitter account @CryptoQF)
--11 straight days of outperformance
--Some of the top owned coins are Decred, VeChain, Siacoin, Ark, Icon... check out the spreadsheet for others
--This model is attempting to beat the crypto liquid crypto market. If the market is up 40,000%, I want the model to do better than that. If the market is down 80%, I want the model to do a bit better than that. However, the model will always be tied somewhat to the market.
Check out the video for the daily update. If you like please subcribe to my youtube channel (Crypto Quantamental) and like the video. And whether you like or dislike my content please follow me on Twitter @CryptoQF, because I love to argue with everyone.
In terms of Bitcoin....
KEEP AN EYE ON THE VOLUME.
We are still seeing record volume in terms of BTC. Most exchanges simply post value traded (in USD) and not volume traded. We've seen a tremendous spike in how much bitcoin is exhanging hands since mid November. In fact, it is the highest we've ever seen. This spike in volume has not declined, which is a strong indication that major accumulation is happening. During the dips down to $3200-$3300 we've seen very quick spikes back up to a steadier range in the $3400s. Another sign of accumulation.
If this volume stays, we may be able to build a base going into Bakkt in January.
If the volume disappears, look out below.
Another key indicator to watch are the short interest (BTCUSDShorts) and the Short Ratio (BTCUSDLong/BTCUSDShort). While we are good if we are building a base, we do not want to see the short interest decay. Think of shorts as having ammo, the more they have the more they can push the price down. So if BTC stays the same WHILE shorts decline (and Long/Short ratio rises) that will ultimately give the bears more ammo to push it back down. Keep an eye on it.