Cryptuminati
Long

Rare opportunity: RSI is the Crypto King!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear Cryptuminati,

I'm so excited.
The Eye of the Cryptuminati sees a trading opportunity! To achieve this, the supertrend has to turn to green. Personally, I'm not getting in until then.

Over the last three years, an oversold situation in the RSI has led to subsequent price gains. Sometimes there was another test, then it went out again and again. Now we have such a situation again! On average, an oversold RSI occurs at most every quarter.

Lastly, an oversold RSI on January 4, 2015 has delivered a false signal, after that 9 signals have risen!

Risk-averse traders can build a position by testing the lower black trend line . However, this is risky, as a break could lead to high price losses. Many analysts consider this line to be important. Therefore, there may be many SLs in this range, which could mean a short-term acceleration to the south.

1. TP: 8.680 USD (50 %)
2. TP: 9.730 USD (25 %)
3. TP: As soon as TP 2 is reached, I will set this target price.

SL (without reaching TP 1): 6.410 USD
Alternative: The supertrend is turning green. When it turns red again, the sale takes place.

I'll update this idea if I get on board myself. I am still waiting patiently. Patience is the secret of success of all Cryptuminati.

The Eye of the Cryptuminati has spoken.

+++++
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Risk note: Everything is possible, nothing is necessary. All information is not a buy or sell recommendation.
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