BTCUSD: Bull Market Peaked? THE RSI & MA Say "Maybe, Baby"
This is not financial advice - just check my past posts to see how accurate they are.
I have been greatly confused by this market cycle. I can't be the only one. Such volatility. Are the institutions responsible? China? Because of this feeling, I had kind of given up using TA to predict future price, but that doesn't stop me observing interesting pattern and posting them on here so here we are.
My Observations on the BTCUSD Monthly Chart
+ When the RSI drops below 50, it is a good time to accumulate
+ There is a general downward trend in the peaks of the RSI
+ The 9MA peak lags the price peak by 7~8 months
+ By the time the 9MA peaks, the RSI already has strong downward momentum
+ Once the 9MA peaks and the RSI is below 70, BTC does not recover and heads into a bear market
+ The only difference this time is the price is CURRENTLY above the 9MA. Should there be a sudden price surge, the 9MA will straighten or turn up and this whole post will be a complete waste of time. Well no, it was still interesting to make.
Let's see what happens. Any crazy predictions or anything you see in the chart, shoot in the comments down below.
Thank you for reading and season's greetings to you all.
I have been greatly confused by this market cycle. I can't be the only one. Such volatility. Are the institutions responsible? China? Because of this feeling, I had kind of given up using TA to predict future price, but that doesn't stop me observing interesting pattern and posting them on here so here we are.
My Observations on the BTCUSD Monthly Chart
+ When the RSI drops below 50, it is a good time to accumulate
+ There is a general downward trend in the peaks of the RSI
+ The 9MA peak lags the price peak by 7~8 months
+ By the time the 9MA peaks, the RSI already has strong downward momentum
+ Once the 9MA peaks and the RSI is below 70, BTC does not recover and heads into a bear market
+ The only difference this time is the price is CURRENTLY above the 9MA. Should there be a sudden price surge, the 9MA will straighten or turn up and this whole post will be a complete waste of time. Well no, it was still interesting to make.
Let's see what happens. Any crazy predictions or anything you see in the chart, shoot in the comments down below.
Thank you for reading and season's greetings to you all.