Zooming out for perspective
The history tell us that StochRSI < 20 = bearish.
The history tell us that StochRSI < 20 = bearish.
Comment:
Bearish since 40k. The higher timeframe charts don't lie.
Comment:
The price gained some momentum but the bullrun is not 100% restarted.
First we need charts and evidence / confluence before say bull market is ON.
Zooming out on 1M timeframe is not so bullish. Waiting for 20 level.
Cash is king until macro and micro analysis will be bullish.
DCA strategy and patience is key.
First we need charts and evidence / confluence before say bull market is ON.
Zooming out on 1M timeframe is not so bullish. Waiting for 20 level.
Cash is king until macro and micro analysis will be bullish.
DCA strategy and patience is key.
Comment:
In this moment, StochRSI (1 month) confirmed above 20 level with slow line, close to overbought area which is > 80.
The indicator:
1. can be short lived above 80 like in 2019 (look left)
2. can stay months / years above 80 level, the entire bullrun (look left 2015-2018)
Of course, strategy is key and more data is needed to before taking actions.
Overall, BTC is looking like is in phase 1 of the bullrun, which is sideways, before going parabolic. If another black swan is striking like FTX last year, cash is king for DCA.
Keep in mind that the chart is 1 month timeframe so is not going parabolic tommorow, and is not going to 500k the following cycle.
The indicator:
1. can be short lived above 80 like in 2019 (look left)
2. can stay months / years above 80 level, the entire bullrun (look left 2015-2018)
Of course, strategy is key and more data is needed to before taking actions.
Overall, BTC is looking like is in phase 1 of the bullrun, which is sideways, before going parabolic. If another black swan is striking like FTX last year, cash is king for DCA.
Keep in mind that the chart is 1 month timeframe so is not going parabolic tommorow, and is not going to 500k the following cycle.
