milobowman
Long

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
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Will be stupid not to buy now
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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!
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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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