Get started

Overbought

BTCUSD - update - previous buyHello everyone, if you like the idea, do not forget to support with a like and follow. as per our last video analysis, we were waiting for a new swing to form around the red trendline to consider it valid and then buy on its break upward. While clearly didn't happen, so our entry would be after the previous swing high (updated via live streaming) as you can see resulting in a bigger stop loss. This buy reached +1R so now we are holding the buy with our stop loss around breakeven, and waiting for the take profit +2R to be hit. and of course, as price approaches the upper gray trendline (which acts as an overbought area) we can always close the trade in profit around +1.7R. meanwhile, BITCOIN would be overall bullish and we will be looking for new buy setups to form on the retest. Good luck! ~Rich
BITSTAMP:BTCUSDLong
by TheSignalyst
24
#BTC #Bitcoin AnalysisBitcoin broke the resistance of the previous ATH with a volume higher than the previous one, although not the largest of the full cycle. A bullish channel has formed that had two small breakouts with throwback. The price action is above $ 34,000, which remains above the support of $ 33,300 the probability of continuing to rise remains. In addition, the overbought pressure indicated by the indicators has decreased, which could lead to a continuation of trend (some divergences are no longer important). However, if momentum falls, we could see a pullback again that would move between the $ 30,000 and $ 33,300 supports, and the simple moving averages that would act as dynamic supports.
Long
by jumperstars
ETHUSD - Are we about to reach ATH?Back on 21 NOV 2017, Ethereum shows some promising upward movements. However, on November 27th an alert for exhaustion occurs (red triangle) and all the other indicators are appearing heavily overbought. What I would like to point out is that DESPITE looking exhausted, ETHUSD kept climbing parabolically all the way until 7th of January 2018 ! I see similar chart patterns and similar indicators and I think it is safe to say there is a HIGH PROBABILITY that Ethereum might see a major outbreak in the next few weeks. Please hit 👍 if you found this helpful or interesting, many thanks ! Best Regards, Ev
COINBASE:ETHUSD
by BlockTechEv
4
Bitcoin: Why Doom Might Be Upon UsBitcoin's record-breaking growth has gone far from unnoticed. It took a mere 18 days to go from the last ATH of $20k to the most recent one of 34.7K. Today, the weekly RSI is displaying a strong downward turn after a record value of 94.5, severely overbought. To see what is next, we will take a look at the 2017-2018 market rally. Here, the RSI was strongly overbought (>80) on several occasions. Every occasion led to a short term sell-off of around 38% on average. Seeing that we didn't have a sell-off yet after the RSI displayed values of more than 80, now might be the time. Assuming Bitcoin will drop 38%, the price might drop to $22k, potentially hitting the strong support at $20k. After the RSI drop, Bitcoins value rallied most of the time, so waiting for the RSI to cool off might be a great investment opportunity in the long term.
COINBASE:BTCUSDShort
by FieryTrading
2
BTCUSDT 4H | Bitcoin market overview: It happened!Hello, dear subscribers! In the previous review, we considered the breakdown of the $19,400 zone as a bullish signal, which will mean the continuation of growth. To our surprise, not only the growth continued, bitcoin made a powerful move upwards, showing a maximum of $23,800. After that level, the buyers' forces weakened, and now bitcoin price is in the corridor of $22,000 - $24,000. From below, the support zone is $22,200 - $22,600. Above is the resistance zone - $23,600 - $24,000. If you look globally, the bitcoin price in case the bears attack, has rather deep support levels - $20,600 and $19,600. According to the MACD and RSI indicators, the market is strongly overbought and the price is staying in a flat before the next price movement. OBV indicator before the beginning of growth showed a decrease in the volume of purchases, after the start of growth showed a sharp surge upward, indicating a strong influence of buyers. Based on the technical data - growth remains the priority. The range of price movement is quite high - it is about $2.000. Market participants should be ready for sharp movements, and not to lose their heads in case of sudden shedding or sharp growth. Subscribe to the channel and stay tuned!
by CatalystsFinance
CHFJPY Inversion Confirmed after a DOUBLE BOTTOMTECHNICAL ANALYSIS: -The price was moving in uptrend, strong volumes, high volatility and momentum confirmed this big movement, once it reached the resistance zone at 113.290, the level rejected it twice, make the market falling down. -The price then bounced two times on the support level at 113.802, creating a clear DOUBLE BOTTOM Pattern. During the second bounce, the price was oversold and accumulating a strong momentum, in fact it started going up failing the retest of the same support. -The price actually is not strong enough to carry on, it started an inversion and it seems to be confirmed by 3 clead DOWN BARS. CONCLUSION: I aspect the price falling down for at least 100-120 pips, monitoring also the H4 time frame we can see that the price broke the Ema 50, restesting it. let me know if you like my idea, leave a LIKE, COMMENT AND SUBSCRIBE for more FREE Analysis like this! trade safe! Gianni
Short
by FXtrades-gp
4
BTC Monthly, uncharted waters Trying to time corn again out of indicators, and historic patterns, sounds a bit silly at this tie, but as the title says, uncharted waters. On a Connors RSI every period spent on the overbought zones ended with a touch back at the 7 SMA. I noticed a pattern of 3 periods with different lengths where this happened. If the pattern is to repeat it self this should drag on for through Feb, due to the DMIADX indicator has just signalized the uptrend movement, and in march we get that touch back on SMA, really difficult to set a price target but those touches are around 30~50% retraces. We could still see a touch there by late this month or Jan. In any case, just a thought for longer term, trying to time the next big moves. Not financial advice.
BITSTAMP:BTCUSD
by lemongrab16
My next plan!!! Buy or Sell Bitcoin!!!Ok guys, this it's a good question that many traders make it. So, first Bitcoin make a new higher today and Bitcoin break up with strong forece at favor of bulls trend. But wait a minute, if that will be caused any liquidation of longs posiiton. Remember, the $19,900 USD was a higher level and psycological point to take our decison!!! So, my other hand it's that Bitcoin could to formed a bearish rising wedge and it's more curious to discuss with us a next plan to take our best decision to long or short position and be prepared. Now, before to continue to analyze the chart, I want to talk in this timeframe and that it's that Bitcoin it's over bought, but we would to be cautelous that we're are a new higher and then we can see a hide correction meanwhile a bull trap and right now the RSI it's overbought. My other good plan it's this, in 3 Daily chart we are overbought and then, we would need to see any correction so possible in Bitcoin that we would need to be prepared!!! But analyzing the Daily so enfocous in this timeframe, we see that Bitcoin was formed an ascendent triangle in this yellow lines and then, in the past days I mark a manipulation clear that we can see if Bitcoin break up or not the zone, but we would need to have any plan first before to entry in the market yes or yes. BUT the most important it's this draw that I created for you if you have any doubts to have any plan and this could to support you. But right now, the best it's still away of Bitcoin until we see that Bitcoin goes again the $19,900 USD again to see if Bitcoin continue up. In case that BItcoin make a confirmation in H4 timeframe. we bought or the another hand we could see a correction that we hope toward the $16,500 USD approximately. But I'm still bullish and following the trend!!!
COINBASE:BTCUSDLong
by harisonhbn9718
1
Timing Mkt Entrance from RSI, Stochastic & Bollinger BandsI am eager to buy this stock because of its strong financials, its strong dividend, exemplary stewardship, and its current valuation, which is significanlty less than its fair value estimate (~$21/share current, compared to ~$29/share est. fair val.). However, due to its recent price increase I am not confident to buy this stock now because I have a gut feeling that this stock will decrease in the short-term, thus minimizing my prorfits. Furthermore, with the market being as high as it is, I would like to mitigate the effects of any impending stock market slumps. Many believe that another crash is imminent, and I dont want to be caught in a situation where I paid a price for a stock that it may not reach again for several months. This will tie up valuable income that could otherwise be used to make bargain purchases should a stock market slump occur. My analysis of this stock is as follows. I first indicated the prolonged overbought status of the RSI indicator, further confirmed by the stochastic indicator beginning in middle-to-late November. Then, I took note of the repeated top-Bollinger band penetration by the price signal, beginning in the first week of November, and continuing until mid-December. Finally, I looked at the volume oscillator to look for signs of divergence. I know that if strong upward moves are supported by a strong positive shift in volume, that the current trend is likely to continue. However, I know that if a strong upward move in price is backed instead by a strong negative shift in volume, that a price reversal may soon follow. Further to my point about volume movement, I observed that the volume oscillator's value at the close of December 11 was ~-4%, and more, that the rate of change of the volume oscillator was decreasing. This is especially apparent in the DEMA-9 of the volume oscillator signal. Since volume is an inherently noisy signal, especially in the 4h chart used in this analysis, I prefer to analyze a smoothed, DEMA-9 on the volume oscillator instead. This makes it more straight forward to assess volume movements and not be distracted by strong peaks and valleys seen in the un-smoothed signal. Thus, I anticipated that a further volume decline would ensure, despite the fact that the price appeared to be increasing rather strongly (but deceivingly so). I thus held off on buying this stock on November 24, where I began my analysis, despite my strong urge to do so given the attractive price increase. I am not certain when I will buy this stock, as the point I made about an imminent market crash is still valid. However should the price continue to decline significantly - the current decline sits at -2.3% in 3.5 hours since mkt open - it will look much more attractive to buy at that time.
NYSE:EPD
by nicholasbdurham