Buy Every Time The RSI Hits 30 = foolproof strategy

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This is what the RSI is for. It tells you when things are oversold. Right now, it's oversold. I don't know what it'll be like 1 week from now, but it's going up in the short term.
Can we just capitulate after this last bounce please
Will be stupid not to buy now
This is only true in a bull market. There's a possibility we're entering a bear market which can stay oversold for a long time before any kind of bounce
+3 Reply
milobowman BTC_Dreamer
@BTC_Dreamer, ENTERING a bear market??? We've been in a bear market since january!
BTC_Dreamer milobowman
@milobowman, what I mean is entering the phase where the general sentiment changes from "this is just a needed correction" to "oh sh*t we're going down forever" and capitulation happens. We haven't had capitulation yet, which is evidenced by more longs than shorts in futures still.
+2 Reply
CryptoJulio BTC_Dreamer
@BTC_Dreamer, I agree with you, capitulation is the final step, and I think it has to happen before anymore healthy growth of bitcoin.
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