A Bitcoin Drop Is Almost Inevitable
I pointed this oscillator out for SPY a few days ago, and wanted to show it to you for Bitcoin as well. For over 3 years, when the weekly stochastic RSI fast line leads the slow line out of overbought, there is, at a minimum, a strong correction that follows. Even the two on the far left, which look small on this scale, were ~40% pullbacks.
In the present case, the fast line is already quite steadily leading lower already.
Look for Bitcoin to show weakness in the coming weeks.
In the present case, the fast line is already quite steadily leading lower already.
Look for Bitcoin to show weakness in the coming weeks.
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