Hi guys, taking a look at BTC here for ya. Let's dive in.
So for the last 6 months or so, we've been going through a Bear/Bull cycle, which leads me to believe we should be following with a Bull cycle here in the next few days. This could of course go sour and continue bearish, as the cryptosphere is an unpredictable beast.
While BTC has been staying nicely within its channels, the Stoch RSI seems to tell quite the interesting story. Most of the overbought points are consistent with logical proceedings (the peaks that are circled red were followed with a bearish downturn). However, take notice of the two oversold points circled in green. Where those points should have logically caused a dip, bullish momentum seemed to follow. To add to this, some of the cycle dips actually occurred while we weren't overbought, which is quite the curious phenomenon. What's even more curious is the state we're in right now- why are we overbought after coming off of such a weak impulsive wave? It doesn't make much sense.
It is highly plausible that we will actually see bullish momentum as we come down from this overbought state. I will mention, however, that it is worth preparing for the possibility of us having hit a peak, and us finally having a nasty trend change, and NOT for the better. Let's be real- we all know crypto is a cesspool of manipulation, and the higher powers want to shake out the weak hands, but the only tool to combat this is proper money/risk management, and continued education. Don't let big money bully you around, do your best to beat them at their game. In a period of immense volatility, don't be seduced by promises of hundreds of percent gains, or massive trend changes out of the bear market. Do your best to put yourself in a position that limits your downside, instead of being mystified by the upside. Believe me, I've been in your place, and it's hard to not want to try and realize massive gains, but you will be caught in a perpetual snag if you don't take the proper measures to protect your assets. Ponder these words and find a strategy that works for you.
If this read interests you and you want help with managing your portfolio, feel free to message me. I have a spreadsheet I've made up for myself that helps me minimize downside, and I'll be more than happy to share it with anyone that needs help.
So for the last 6 months or so, we've been going through a Bear/Bull cycle, which leads me to believe we should be following with a Bull cycle here in the next few days. This could of course go sour and continue bearish, as the cryptosphere is an unpredictable beast.
While BTC has been staying nicely within its channels, the Stoch RSI seems to tell quite the interesting story. Most of the overbought points are consistent with logical proceedings (the peaks that are circled red were followed with a bearish downturn). However, take notice of the two oversold points circled in green. Where those points should have logically caused a dip, bullish momentum seemed to follow. To add to this, some of the cycle dips actually occurred while we weren't overbought, which is quite the curious phenomenon. What's even more curious is the state we're in right now- why are we overbought after coming off of such a weak impulsive wave? It doesn't make much sense.
It is highly plausible that we will actually see bullish momentum as we come down from this overbought state. I will mention, however, that it is worth preparing for the possibility of us having hit a peak, and us finally having a nasty trend change, and NOT for the better. Let's be real- we all know crypto is a cesspool of manipulation, and the higher powers want to shake out the weak hands, but the only tool to combat this is proper money/risk management, and continued education. Don't let big money bully you around, do your best to beat them at their game. In a period of immense volatility, don't be seduced by promises of hundreds of percent gains, or massive trend changes out of the bear market. Do your best to put yourself in a position that limits your downside, instead of being mystified by the upside. Believe me, I've been in your place, and it's hard to not want to try and realize massive gains, but you will be caught in a perpetual snag if you don't take the proper measures to protect your assets. Ponder these words and find a strategy that works for you.
If this read interests you and you want help with managing your portfolio, feel free to message me. I have a spreadsheet I've made up for myself that helps me minimize downside, and I'll be more than happy to share it with anyone that needs help.
Comment:
DECISION TIME!