BTC/USD AMAZING BEARISH PATTERN FOUND RSI/FIB/PATTERN COMBO!
Dear HodlCrypots,
There is still some indecision in the market. The spike up entered a no trade zone (at least for me). There are no bullish signals, at least I haven't seen one yet, but there are some legit support areas that could indicate another move up, but that was until I found this pattern.
This amazing bearish pattern is hidden well in the RSI. It's a slight combination of the RSI with the chart where the red line down at the RSI is the trend and the trend is down. Combine the lowest points on the rsi (1hour) with the points on the chart and it will give you a perfect line heading for a fourth possible tick at 2 algo targets.
I won't go short on this myself since there is indecision (it could also very well be an already completed bearish pattern, since 3 ticks are very common to end a move or pattern and the target will in that case be 7k in the short term), but just bear in mind that this amazing bearish pattern could very well play out and hit 2 extremely technical pivots. Once it does, expect another, much more powerful and well deserved long bounce.
Thanks for taking your time to read this!
Stay safe and good luck everyone!
PS: This is for educational purposes only. I am not a financial advisor. The sharing of graphs is meant to share my ideas with the rest of the community and an indication on how I make my trades.
There is still some indecision in the market. The spike up entered a no trade zone (at least for me). There are no bullish signals, at least I haven't seen one yet, but there are some legit support areas that could indicate another move up, but that was until I found this pattern.
This amazing bearish pattern is hidden well in the RSI. It's a slight combination of the RSI with the chart where the red line down at the RSI is the trend and the trend is down. Combine the lowest points on the rsi (1hour) with the points on the chart and it will give you a perfect line heading for a fourth possible tick at 2 algo targets.
I won't go short on this myself since there is indecision (it could also very well be an already completed bearish pattern, since 3 ticks are very common to end a move or pattern and the target will in that case be 7k in the short term), but just bear in mind that this amazing bearish pattern could very well play out and hit 2 extremely technical pivots. Once it does, expect another, much more powerful and well deserved long bounce.
Thanks for taking your time to read this!
Stay safe and good luck everyone!
PS: This is for educational purposes only. I am not a financial advisor. The sharing of graphs is meant to share my ideas with the rest of the community and an indication on how I make my trades.