What happen the last time the RSI went to 70 on the 3 hour timeframe?
Comments
PW
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No worries, it's good to tease this stuff out. I'm still experimenting with secondary indicators. Any specific reason you choose RSI ahead of Stochastic RSI?
PW
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Thanks for sharing liw0. I wonder is that was true because we were downtrending? If we go back a further to an uptrend, the theory doesn't seem to hold true. So now that we are uptrending again...
Caveat: I am a beginner.
liw0
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Perfect counter argument! I also missed that the bearish RSI divergence turned into a bullish divergence. That must have been the bear inside of me wanting to pick up some cheap coins ;)