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.
@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.