No. I don't know why you made a line to target 1, when both the RSI and MACD where pretty high?
cryptopiche
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@CryptoFrank23, I put this out to get some opinions. I am new at this charting. I thought the rsi and macd where going to go a little higher as previous waves and start a 12345 wave. how would you have read this trend? thanks for the reply.
CryptoFrank23
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@cryptopiche, When the RSI is over 70, most of the time it means the crypto is overbought. You can see this on all the spots on the chart when this happened, prices went down. When it's under 30, it's oversold, and prices will tend to go up again. Of course this can just be a short temporary spike, you have to look at the overall trend too.
cryptopiche
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@CryptoFrank23, once again thanks for the reply. I got a lot to learn I didn't think it was going to drop like that though. From 87 to 81. Do you attribute this to the drop on btc or other factors?
CryptoFrank23
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@cryptopiche, There are several factors, but BTC dropping is the most important one. Remember, normally when BTC goes down by a lot, altcoins go down even more. Altcoins tend to move up when BTC is relatively stable.