Finally getting to where I feel like Im able to feel my way through some basic TA. This is a hypothetical Bitmex Long Position. I'm basing my position on RSI, 4 exponential moving averages using Fibonacci numbers (5,8,21,55), and MACD. Im having to teach all of this to my self cause I literally have zero friends who are into Technical Analysis (feel free to help me).
With the moving average crossed over back into bullish territory were having a healthy retrace and creating a strong resistance of >9k. In the past we have a bull, bear struggle after a strong uptrend like we had the past week or so, resulting in a double top or bottom and in some cases a head and shoulders pattern.