RSI divergence has been coming for a while now. BTC and suitable dropped.
How far will it go?
RSI Support may have been reached, but last retrace BTC dropped further after RSI support found.
I am expecting some horizontal movement before a further drop reaching 50% retrace and long term support.
Caveat: I am not a professional trader or adviser. Do your own research before making any trade. Never trade more than you can afford to loose.
How far will it go?
RSI Support may have been reached, but last retrace BTC dropped further after RSI support found.
I am expecting some horizontal movement before a further drop reaching 50% retrace and long term support.
Caveat: I am not a professional trader or adviser. Do your own research before making any trade. Never trade more than you can afford to loose.
Trade closed: target reached:
In 1hr:
As expected RSI found support whilst the price continued down. THe price has found support.
Will the RSI give support twice or will it break through next time? Will the price support hold?
RSI and MACD trends are upward, but maybe too fast and resistance to be encountered
In 4hr:
RSI support not yet reached and not yet oversold (<30%).
My thoughts on this so far have been proven conservative a couple of times and its looking that way again. Breaking through the long term price support however would have further consequences.
10440 is a re-entry position I like, but do not want to go in 100% until conformation is attained from the 4hr.
As expected RSI found support whilst the price continued down. THe price has found support.
Will the RSI give support twice or will it break through next time? Will the price support hold?
RSI and MACD trends are upward, but maybe too fast and resistance to be encountered
In 4hr:
RSI support not yet reached and not yet oversold (<30%).
My thoughts on this so far have been proven conservative a couple of times and its looking that way again. Breaking through the long term price support however would have further consequences.
10440 is a re-entry position I like, but do not want to go in 100% until conformation is attained from the 4hr.
