BTC Head and Shoulders in RSI (+Fibo Flag) Long

Bitcoin / U.S. dollarBitstamp

Description

⋅ Sep 4, 2014 10:50 AM

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?

Comments

IvanLabrie

⋅ Sep 4, 2014 11:43 AM

I noticed you can find some underlying info in RSI trending patterns, definitely interesting.

Vatis

⋅ Sep 4, 2014 12:04 PM

Thank you, Ivan

IvanLabrie

⋅ Sep 4, 2014 12:19 PM

This a bit like voodoo :p

Maddie

⋅ Sep 4, 2014 11:15 AM

I've never seen this before hehe.
And I don't think this exist, but it looks interesting to me!

Vatis

⋅ Sep 4, 2014 11:16 AM

Have a look here ;-) fxtimes.com/education/observing-head-and-shoulders-in-the-rsi/

Maddie

⋅ Sep 4, 2014 11:20 AM

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 :)

Vatis

⋅ Sep 4, 2014 12:06 PM

Thank you for your feedback and opinion!

BTC_Daily.Pips

⋅ Sep 4, 2014 11:39 AM

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 :)

Vatis

⋅ Sep 4, 2014 12:05 PM

I am also inspired buy your charts and ChartArt's. I wouldn't be so bullish, if not for other positive signs.