Vatis
Long

BTC Head and Shoulders in RSI (+Fibo Flag)

BITSTAMP:BTCUSD   Bitcoin / Dollar
I've just came up with the idea of H&S in RSI and look - there was no clear downward head since July 2013             . Is this sign strong enough to buy?
I noticed you can find some underlying info in RSI trending patterns, definitely interesting.
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Vatis IvanLabrie
Thank you, Ivan
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This a bit like voodoo :p
snapshot
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I've never seen this before hehe.
And I don't think this exist, but it looks interesting to me!
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Vatis Maddie
Have a look here ;-) http://www.fxtimes.com/education/observing-head-and-shoulders-in-the-rsi/
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Maddie Vatis
Hi there,
Thanks for sharing.
This guy drew and H&S on the RSI when it also happened on the chart.
You drew H&S's everywhere also when it didn't happen on the chart.
But it looks interesting to me!
In my opinion we're also near to the bottom and were going up further.
You'r inverse H&S is suggesting the same.
Another thing that suggesting an uptrend is that the RSI went below 30's this indicate that a new uptrend is coming after we broke the 53's :)
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Vatis Maddie
Thank you for your feedback and opinion!
Reply
Interesting approach on H&S in RSI indeed, the last Head and right shoulder also show a good bullish divergence and good chances to break at last the RSI downtrend :)
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Vatis BTC_Daily.Pips
I am also inspired buy your charts and ChartArt's. I wouldn't be so bullish, if not for other positive signs.
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