JoeyRocket

Are we reeealy "oversold" Be careful with that word

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
History has shown many time that the word oversold can be very misleading, especially for people thinking this is the bottom. I have made the mistake of falling into this trap and thinking prices can't go lower so this is a reminder to myself and others to be very careful believing this word to be truth and factual. Its the Relative Strength Index ( RSI ) not the OverBought/Oversold Index.


Don't believe people who say we will go up or down because of RSI , you can get rekt like that. Use it as a piece to the puzzle to form an opinion, not as a factual buy signal. Key word = Strength
RSI is divergence is one of the most important things you could learn in regard to RSI .


Great luck and please like/share the post if you found this insightful! Please share ideas if you see holes in my TA, it will help me and the people reading this. Thanks!
I'm no pro and I will make mistakes so its always great to get 2nd and 3rd opinions after mine.

Joey Rocket Cryptos
BTC $4140
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and lower
Price of BTC is now $5029 and has seen less than $5000
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getting lower...
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