RSI Short Signal: Momentum Discrepancy Reversal Point(MDRP) Down35 period MDRP Down signals a BITSTAMP:BTCUSD short sell or profit taking on existing long positions.
The Bears are completely in control as the "Continuity of Bearish Thought" continues its domination, this being indicated by the following points:-
(1) Presence of multiple Bullish Divergences;
(2) RSI rally high to under 60 level on Hourly Chart under 40 level on Four Hour Chart indicates 60/20 Bear Range stays in place;
(3) 9p SMA on Price remains under 45p EMA but on RSI is above on the Hourly Chart indicating SIDEWAYS to DOWN TREND;
(4) 9p SMA on both Price & RSI is below the 45p EMA on the Four Hourly Chart indicating DOWN TREND continues to be the dominate force;
(5) Price Support Levels continue to be routinely negated;
(6) Price Retracement Theory continues to support DOWN TREND momentum.
Hope this is of some interest to the trading community. Your comments are more than welcome.
Kind Regards
Phil A.
