JacobFranklin
Short

RSI Divergence on BTC/USD

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD headed for a retracement over the next week or two. Note the RSI Divergence. Price will rebound slightly over the next couple days which will show a good selling point. Before selling, note that the RSI should be overbought but still probably a lower price and RSI high than the last two recent peaks. Then the volatility should tighten up at a slightly lower price level. If that holds true, the retracement should occur after some consolidation. I plan to buy back in once we see a double bottom on oversold conditions. Not expecting a huge sell off, just a buying opportunity and something near the channel low from the last two retracements.

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