FerroIgnique
Short

BITCOIN: Its time for a breather

KRAKEN:XBTUSD   XBT / USD
Price action has been very good to all of us. But nothing goes straight up. We can experience several pullbacks to the EMA ribbon and still be a bull market. Its reasonable to conclude that this will develop to a 30% slide to the EMA ribbon. The stoch RSI has been heavily correlated to the price and right now k>d (which is bearish ). Plenty of people are watching the NVT ; expecting a large retrace there. The RSI itself looks like its rolling over as well.

I'm not your advisor, own your trades, this is a blog.
Comment:
get ready to fall out the bands.

Comments

So, buy the 20w EMA and buy it big for the next couple of years? Thanks for the advice.
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FerroIgnique This_Guhy
@This_Guhy,
Or we fall out the bottom
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allkrystals FerroIgnique
@FerroIgnique, 30%... back to 6000?
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FerroIgnique allkrystals
@allkrystals, 5600-6000-ish. I've seen someone call this the Honey-badger rally. Honey-badger don't give an Eff. Bearish divergence built up on the daily with the RSI for about a week then the price pumped so hard the divergence disappeared. Price keeps climbing and climbing. Its ridiculous

I look at the 4h and the daily stoch RSI as my primary indicator because its highly correlated with the trend. k>d price trends up, d>k and the price trends down. Crosses above and below overbought/Oversold are significant. Right now the 4h is poised to cross bullishly from below 20 and the daily k is greater than D at about 56. So the price (probally) will run up for several 4h periods and I'll take profit on my longs and keep said profits in fiat while I wait for the weekly stoch rsi to roll over with the target somewhere in the EMA ribbon. But that's just me.
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