BTC RSI WEEKLY. Consistent 5 years chart.See history of BTC using BLX charts. Whenever it gets near the 55-57 RSI on weekly it dumps hardcore in bearmarket.
You can clearly see it is being consistent after 5 year.
Notice it always dumped first when it got near the RSI 55-57 before it tried to rally and end the bearmarket.
dont long this RSI. if your hand is itching to buy just wait for retrace then gamble your money. but longing RSI with massive resistance is just stupid.
remember ladies, don't long resistance and don't short support.
Btc-short
Drop below the channel could take us to 4500 or even 4200While the news came out today about the investigation into Bitfinex/Tether, there was already a negative RSI building before the news broke, indicating a likelihood of a drop.
Currently BTC is still holding in the channel, but a drop below it could take us to 4500 or even 4200 in the short term.
#notfinancialadvice
BITCOIN Golden cross & regular bearish divergenceHello fellas!
We have an interesting day on BTC-USD daily chart, bulls seems to be exhausted RSI and MFI levels are decreasing while the price is going up witch means that we have regular bearish divergence, also volume is decreasing while price is increasing another bear sign. We are in a bear flag formed from the beginning of April. At this price levels we have some resistance also on November 2018.
In contradiction with these bear signals today MA 50 and MA 200 had crossed formed a GOLDEN CROSS witch is a bullish signal, from my point of view we will go DOWN, I think it's just a bull trap let's see what will happen in the next few days, we could see a correction to 0.786 Fib. level witch is around 4200 zone so I will SHORT some BTC.
This is not an financial advice, take care of your money!
One last pullback before the MASSIVE #Bitcoin | $BTC Breakout!?!One last pullback before the MASSIVE #Bitcoin | $BTC Breakout!?!
We think so. Elliott wave and fibonacci usually don't lie, so we hope
that you've opened a HUGE SHORT position at these overbought price
levels. As always, use STOP-LOSS or STOP-LIMIT orders to protect
gains, as well as limit potential losses on your trades!
Decisive moment for BTC After this small run from BTC up to 3950 we hit a major resistance level. Also, we are very high on the RSI which might indicate BTC will go on its way down again. However, if BTC manages to close above the yellow resistance line on the weekly chart, we will most likely retest this yellow line to see if it holds as support. If so, this might be the end of the BTC bear market and a great opportunity to invest.
XBT BTC More Drop incoming!!!continuing on my prior published idea the same way our bear-flag continues to form.
Short Entry 3350+ (stagger short limit orders -x5- from 3350-3550 to catch a possible small leg up before decent to 3200 or below)
Leverage : 5x 10x (SL at 3600)
T1: 3250
T2: 3150
SL: 3700