price memory update

Bitcoin / U.S. dollarBitstamp

Description

⋅ May 11, 2017 7:19 AM

my prediction is that BTC will shoot up to 2000 and then retrace.

as you can see, every time it has come to the resistance line, it has either broken it->then retraced, or just stalled around it like last time.

Relative Strength Index (RSI)BTCUSD

Comments

patterntrader

⋅ May 11, 2017 4:05 PM

In fact, this chart provides a different perspective of the market. This type of charting idea never passed through my mind. It is always good to keep in touch with professional traders.
Thank you for sharing this chart. Continue your good work.

RiskCity

⋅ May 11, 2017 4:10 PM

@patterntrader, glad you find it useful!

ambrosia

⋅ May 11, 2017 7:27 AM

what about 2013? It seems more like 2013 to me.... going for 95+

RiskCity

⋅ May 11, 2017 7:39 AM

@ambrosia, i totally agree, it can go full parabolic mode. but at the moment i'm comparing it to the last 3 times it has stalled around RSI resistance

f-73

⋅ May 11, 2017 8:44 AM

@ambrosia, that's an option indeed.

f-73

⋅ May 11, 2017 7:27 AM

I'm monitoring volatility spikes as well.
Hard to see how far it will spike though.
It can be anywhere between 1850 and 2400, in my opinion.

RiskCity

⋅ May 11, 2017 7:36 AM

@ft-73, yep 2200 +/-200 would be reasonable aswell, last 3 times RSI has crossed 69.1 - BTC went on a +3 week streak. we are on week 2 at the moment