The top rated trader known as ProjectSyndicate has told his 60 000 followers on social media that Bitcoin is set to hit a new cycle low soon and this may result in a swift reversal in cryptocurrency markets.
In fact, ProjectSyndicate indicated that the current trading range of $30,000-$40,000 may break soon and BTC might hit $25,000, but once it hits this price level, it would mark the cycle low for Bitcoin.
ProjectSyndicate developed four algo-based trading systems for FX/crypto and stocks, and has factored in the cycle lows of Bitcoin, projecting a substantial rebound that could come quickly, and build momentum for Bitcoin following its recent correction.
Having developed a unique scanner software, ProjectSyndicate revealed a comprehensive suite that enables other traders to look at a variety of factors affecting the market, with built-in trend, flat, range market detection algorithms. The scanner software is based on MT4 and the Breakout Edge system includes an EA/bot for full-auto trading.
Strong recent performance of the ProjectSyndicate systems is highlighted by more than 100,000 pips in FX since it was launched last year. The scanner can generate 4-8 signals a day, and follow the trends in crypto/indices/metals/oil/along with general stocks.
ProjectSyndicate, who developed the software following a 15-year career as a trader, built it with an experienced team of coders to identify high probability setups across multiple markets with low risk. The system produces strong results in FX/crypto/stocks/indices with low risk. With its ranking algorithm, it scans for signals across multiple timeframes and the resulting hit rate is over 75% since inception in 2020.
Recently, ProjectSyndicate launched the Lifetime Bundle offer. The Lifetime Bundle includes four systems and is equally effective in Forex and cryptocurrency markets. The Mean Revert PRO system is designed for short-term trading/scalping on M5/M15/M30 timeframes. Breakout Edge is the most advanced system based on AI/decision trees to trade breakouts. The system also includes EA for full-auto trading. The Primary scanner system is great for spotting reversal and swing trade setups on higher timeframes.
When it comes to Bitcoin’s trading cycles and recent correction, ProjectSyndicate states: “Price looks weak in this trading range, if there is a breakdown of the trading range be ready to buy low near 25,000 USD, as this will be the cycle low for Bitcoin.” He went further to add that following this, “A new parabolic wave of buying will emerge. This will result in Bitcoin hitting close to $150,000 to $200,000 by end of 2021.”
Bitcoin is volatile. There are some negative aspects of this volatility because most people are not used to having their investments rise and fall in such short cycles. However, there is also an upside. With the volatility comes opportunity. The fluctuations in Bitcoin’s price can be good for those who invest smartly and can manage risk well. It also has an incredibly low cost per transaction, which combined with its decentralization and security make it an appealing option for users.
For ProjectSyndicate, it’s more about understanding the market dynamics and being able to react to them. Through the more sophisticated approaches such as algo-based scanners and expert advisors, traders are able to gather a great deal more information about market volatility, and understand trends using the latest software to help them make investment decisions.
In association with ProjectSyndicate
RISK DISCLAIMER: Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.