I expect a strong bounce soon.
Updated
4 minutes ago
Do people realize how low we are on the weekly and daily frame on RSI?
As low as may crash levels..
I'm %90 sure that this is the bottom for the relief rally we can decide whether its bull or not later on.
If it keeps going down like this it'll be the shortest bear market ever..
I doubt RSI will reach the bear market bottom without even pullbacks and if that really happens we can bye-bye to traditional bull and bear markets
Weekly divergence can take days and maybe a few weeks to play out and yes there is also rare weekly divergence occurred which makes bounce thesis even stronger
wicks as low as 39k is acceptable..
The latest weekly candle is still intact so closing above 45k would make divergence even stronger(RSI only counts candle body closes)
Do people realize how low we are on the weekly and daily frame on RSI?
As low as may crash levels..
I'm %90 sure that this is the bottom for the relief rally we can decide whether its bull or not later on.
If it keeps going down like this it'll be the shortest bear market ever..
I doubt RSI will reach the bear market bottom without even pullbacks and if that really happens we can bye-bye to traditional bull and bear markets
Weekly divergence can take days and maybe a few weeks to play out and yes there is also rare weekly divergence occurred which makes bounce thesis even stronger
wicks as low as 39k is acceptable..
The latest weekly candle is still intact so closing above 45k would make divergence even stronger(RSI only counts candle body closes)
Note
"4 minutes ago" wasn't supposed to be there..I mistyped, my apologies.
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