Quite often we are faced with the question of whether Bitcoin is macro bullish or bearish. I tried to take a punch at this.
There many ways to find that answer. This is one crude way.
Whenever the background colour is light lime, it means it thinks the Bitcoin is macro bullish Whenever the background colour is red lime, it means it thinks the Bitcoin is macro bearish
How would I use this information? I can possibly use it in position sizing and hedging. If I see a sell in a lime background, I can potentially just hedge & vice versa.
Do note that it works best in the higher timeframes.
Do note that it is not supposed to be used to open any new trade or to close any trade.
I use it alongside other indicators for confirmation bias.
This can possibly be used for other instruments. As I only use it for trading BTCUSD, I have crudely tested for BTCUSD
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