Bull flag vs RSI correction
RSI suggests market correection for tomorrow and next week camdlesticks based on oct 03,09,117 situations. Purple vertical lines shows historic path itself.
Background: 12 d 5h for -16.23% down
Stick: 20h for +8% up
Flag: 1d 6h +3.39% up
However, there is a huge resistance at 45 price level, so we can expectate another...
Background: Bullish trend finished on resistance 171 price level. Tripled top on sept 27, 29, and oct 04 on RSI on 70, then channeling wide and volatile through 140-160 price levels.
First: SHOULDER formation oct 02 starting RSI 65, 160-114-128 price oscilation.
Second: HEAD formation oct 17 to nov 02 starting RSI 62, 128-84- 114 price oscilation.
We are spectating a channel breaking in SOXL resulting a strong price bounce on 120-122 support. 20 point up we can see how SOXL is making consistently new high spots despite several bull traps in the channel. Spectating uptrend continues to a new resistance near 150-160. Watch out for price drop back to 132. Stop loss at 132.5 so you can manage the risk for less...
BTCUSD pair is draring a clear pattern of two corrections from January to May 2018. The recent correction has been smoothier than the first one. If market sentiment continues bullying the market, we could see a positive breakout of the pattern. Remain aware of possible market third correction. If you are long at BTC apply stop loss on -10% of investment value....
Combinations of Fibbonacci asume a 80 degrees rebound in a w shape. Assuming more good news involving the development of the internet of money. Bitcoin and altcoins should be bullish asuming the entry of institutional funds. The regulations make healthy money comes as investment capital. Be careful with .38 resistance. there is a huge volume to cross trade this limits.