Barsam

Comparison of BTC 2017/2019 RSI corrections

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
In this review, I consider only the weekly chart, which is more interesting to me. If we proceed from the logic that this is a common correction in the bull market, then it is worth looking at the RSI and MACD on the weekly chart:

  • In 2017, with the usual correction in the bull market, RSI weekly support was around 52-53.
  • The MACD is approaching the intersection soon, but, as in 2017, after a week / several weeks it can again cross to the side of the upward movement.

That is, it does not matter whether we will rise in the coming days or not, but sooner or later in the near future I expect to touch the price of approximate marks 52-53 for the RSI to wait for a reversal.

The idea was created to correct my mistakes in the future and is not financial advice.
Yeah rsi is relative but helpfull
I am pretty sure we are in a fractal, time will confirm or disprove
+1 Reply
Barsam mike73234
@mike73234, Indeed! Time will tell.
Thank you for looking at my thought.
Reply
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