dr.ehabaziz

BTC oversold on 3 indicators - Correction continues

POLONIEX:BTCUSDT   Bitcoin / Tether USD
over sold on 3 indicators with possible change of direction on the indicators

On daily chart we are not in that area yet but very close

Possible slow down

No clear indication for long term buy / reversal yet

Sep 15
Comment: Buyers stepping in
No clear indication for long term buy / reversal yet
Sep 15
Comment: Bulls are saying the market is ours , set for 3000 level as support
2 very strong buyer bars on the 4 hours chart

Two of these indicators seem to have the same equation.
Reply
dr.ehabaziz claudiohfg
@claudiohfg, Stoch and RSI are quite different in methodology and equations. Stoch RSI, on the other hand, is the application of the first to the 2nd which gives more signals.

when the 3 are overbought or oversold , it is an indication of a very strong trending market. yet, it is time to look for reversal signs. They should not be used on their own to buy or sell against the market trend.
Reply
claudiohfg dr.ehabaziz
@dr.ehabaziz, I just wanted to point out that Stoch RSI looks a lot like CM Stoch MTF. Seeing them again, they just look the same closer to the right of the graph. Thank you for the explanation.
Reply
dr.ehabaziz claudiohfg
@claudiohfg, for example in this case, if you get a green engulfing bar on 4 hours chart , a possible entry would be above the next green engulfing bar with the stop loss below. Hope that is helpful
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out