At some time in the future we will be exiting below 85 on the 1D RSI for good for now. I'm trying to figure out a target for the next fall in order to try and have an intelligent estimate for when to get back in.
Looking at previous instances of this gives the following data. Apologies for imprecision, these are just eyeballed.
The six previous falls after...
The last reversal had three phases of oscillating between oversold and overbought. To me, it looks like we have completed phase 1, the breaking of the 200D MA and reaching 80 on the RSI. Phase 2's downslide is accelerated by re-breaking the 200D MA.
The caveat is that of course this time can always be different. History doesn't always repeat but it does rhyme, etc.
The last time I see a 1W MACD cross below zero is March 2015 when the price was ~$220. Interestingly, this marked the bottom of the last bear market.
We have experienced a 1W MACD cross below zero again in October 2018.
BNB is looking very attractive now. 1D MACD has crossed bullish and RSI is still low. Coin burn pumps start ~45 days before burn dates. Round 9 of Binance Community Coin voting starts today as well. Next burn is October 15, so that means get in now to get all of the gains.
I wanted to see what the channel it is in looks like and what the next alt cycle may bring. Either the many year long channel will be invalidated or the price of Ethereum will increase greatly by the end of the year.
A lot of people are facing confusion about when to get into and out of alts recently. It honestly doesn't seem any more difficult than this. Overbought (>80) RSI for ETHBTC would have had you sell alts on 1/9, 1/31, 5/4. All great dates to have gotten in or out of alts if you check the peak and trough dates for Stellar, Cardano, IOTA, and other alts. Oversold...
I wanted to plot the correlation between the Crypto Fear and Greed Index and the the BTC price. The index is found here-
Selling above 60 on the index and buying below 15 would have been good exits and entries this year. I don't know if anyone else will find my charts useful, I usually just publish ideas I...
Thought I would plot both prices on the same graph to see if BNB price is affected by BTC price dips before coin burn dates. It seems completely immune, unlike almost every other alt, which drop when BTC drops. Quite surprised by this discovery. Could be quite important as we go forward to the next coin burn on July 15, with BTC dropping again.
BTC price has alternated between up and down perfectly after the sixth since January, when Futures started. The odds that is a natural formation are remote. You just don't see patterns that fit this perfectly in real markets. The recent drop isn't a surprise, as the price was going too fast to meet its goal for the next sixth on July 6. BTC price is going down the...