I'm a crypto guy and love serving the coinvestor army. And as digital recon, I look not only in crypto, also into the stock market. I'm also one of the guys looking into numbers like all kind of debt stats, financial markets worldwide and so on. In talk with some IT workmates, I started to look into amazon with our simple coinvestor support/resistance RSI strategy...
So, not a good one last week, would have been better to stick to cost average on fridays, but misinterpretation is part of the game. As Coinvestors the only thing to avoid is miscalculation of positions and to buy in with too much to early. Believe me, I did that a lot, so I learnt to set my posistions in the right size, to participate in the market on a support...
Long time no see coinvestors :-)
But with possibly leaving the b(tc)ear market, I will check by here more often.
I did not change much on the coinvertor army chart, just added the blue line and the arrow for the major cross support that must not fall for sake of not loosing the upward momentum.
RSI shows a good portion of an overbought market, something hadn't...
As expected, BTC falls futher down and hit the lowest support line in our chart. Can it go further down ? Maybe, but we can also see a short squeeze pretty soon.
RSI is on an iconic low, the MACD as a wide divigence and "shoulds don't buy now". Bad signs for a chrismas rally, but anyway, we coinvestors are in for the long run, right ?
Cryptomarket is pretty weak...
BTC has outperformed most big altcoins and that quick jump back in the positive EMA200 region is a sign of returning fortitude in the cryptomarket.
But I added also a new trendline (grey),that's our resistance the market has to overcome to continue this rally.
For the first time since I write for you guys here, we have an overbought RSI and the MACD turns slowly...
