Statham

BTCUSD RSI Analysis

BITFINEX:BTCUSD   Bitcoin / Dollar
94 0 0
* Looking purely at RSI * , the down trend was broken on 2nd March, marking a return to bullish territory. We are again down below the trend and since this was the third-leg up on the RSI it seems we must be heading slightly down and/or sideways for a period to consolidate either at this level or around $250.

News concerning the price paid at the US Govt bitcoin auction will probably cause an overexaggerated break. We know the price is >= $221 and probably less than $350. If price > 300 expect some price rises, anything below 300 IMO will cause a big fall.

I will be looking for shorts on any significant price rise especially if we head into overbought territory on the 1D.
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