Woobull.com, a provider crypto asset market, and network data has added new charts to its Bitcoin price, momentum, volume, and volatility platform.
Bitcoin Price Building ‘Momentum’
The “Bitcoin Momentum Chart” appears to lead the price of bitcoin (Similarly to the RSI and MACD, but specifically for bitcoin) as changes in crowd psychology tend to happen before prices do.
As Bitcoinist has written before, Bitcoin’s price is typically followed by public interest.
The indicator is also seemingly able to quantify price trends based on bull markets and changes in momentum plotted on a separate line graph. This indicator could help traders understand if a strong price trend is in force.
It should be noted that there is already a directional movement indicator that was developed in the 1970s named the Average Directional Index (ADX). The ADX appears to follow the same premise as the Bitcoin Momentum Chart — although this new chart might be easier for new traders to read and therefore understand.
Signaling and investment-related charts
Woobull seemingly offers traders and investors charts and data that they cannot easily find online. For instance, many, (if not all) of the charts on Woobull are sourced outside of the mainstream technical analysis sites such as tradingview.com or CoinMarketCap.
The site, therefore, might be more suited towards investors who look at long-term and secular trends than swing or day traders that look at the hourly candles. Still, the information provided from Woobull remains objectively useful for anyone with a technical or financial interest in Bitcoin.
One interesting chart above is titled “Bitcoin Risk Adjusted Returns vs Other Assets.” The chart is used to “compare Bitcoin ROI,