We need to seriously take into account the RSI structure. We are much closer to a very strong Support on RSI (14). Right?
What exactly does it mean?
1. 10 Dec 18 RSI (14): 29
2. 09 Mar 20 RSI (14): 33
Just before pointing out the third this sounds like a trend guys. Right?
3. Based on such supposition the third has to be some 37! Right?!
Let's conclude:
Based on the Relative Strength trend during the last two years if the oscillator touches this trend line bitcoin bounces back up. I say bounce cause this is the 3rd Cycle of the market which is called Redistribution-Reaccumulation.
I do not believe in anything but uncertainty just like Alice in Wonderland. I cannot say this is right or wrong. But I do believe in balance. What I have said regarding RSI sounds so reasonable guys. Why would it break if there is no wrong news or manipulation?!
China & India, the US & the EU are most important influencers on the industry and this hypothesis would be valid if they regulate against the industry and/or the whales want to pull it even more down to grab more. If the two latter mentioned happen, then 15 - 20 K would be touched very quickly and bitcoin starts to grow again.
What exactly does it mean?
1. 10 Dec 18 RSI (14): 29
2. 09 Mar 20 RSI (14): 33
Just before pointing out the third this sounds like a trend guys. Right?
3. Based on such supposition the third has to be some 37! Right?!
Let's conclude:
Based on the Relative Strength trend during the last two years if the oscillator touches this trend line bitcoin bounces back up. I say bounce cause this is the 3rd Cycle of the market which is called Redistribution-Reaccumulation.
I do not believe in anything but uncertainty just like Alice in Wonderland. I cannot say this is right or wrong. But I do believe in balance. What I have said regarding RSI sounds so reasonable guys. Why would it break if there is no wrong news or manipulation?!
China & India, the US & the EU are most important influencers on the industry and this hypothesis would be valid if they regulate against the industry and/or the whales want to pull it even more down to grab more. If the two latter mentioned happen, then 15 - 20 K would be touched very quickly and bitcoin starts to grow again.
