As we can see on the chart, the curved price action shows a slowdown in momentum,
Just like we saw when we reached the 60K zone before crushing down to the 30K zone.
The curve of the price shows that there is less bullish fuel that moves the price up,
and price stops moving as significantly as before.
It does not necessarily mean a trend reversal is to come,...
Will it break?
Even though we are basically consolidating for a very long time now, in the consolidation itself we formed a potential H&S pattern.
Will it break bearish?
We need to see volume and a break of the support line that holds the whole consolidation phase.
Or maybe invalidate the pattern by going up and breaking the consolidation from the upside?
Few days ago we broke a rising wedge formation (which is bearish),
with target at its base (about 44,807-45,135)
but meanwhile created a double bottom.
we want to see wether we manage holding the
important lvl we are at now,
or break again lower towards the 51k,
and even lower towards the rising wedge's target.
A bounce of the current lvls could bring us up...
We can see in the past that the two previous times we had a big rally to 1424$ high & 363$,
when they started they were oversold on the RSI.
should we wait for the RSI to become oversold for us to rally back up?
Last time we crossed below the 20 MA & EMA we dropped for about 52%.
Now we crossed below those MA & EMA once again.
Will we drop for about 52% like we did in the past?
Or maybe we coulddrop till we reach 50 MA & EMA?
As we can see on the chart, they are potentially 3 beairsh patterns on the daily time frame.
on the right side u can see the formations that i drew to be more clear and seperated.
There is a potential H&S pattern (neckline is the slopping blue trendline).
To draw its target we measure the top of the head till the neckline in a straight line, and drag it below the...
On 31 December we became overbought on the stochastic RSI.
we stayed above the 80 area for 16 bars (weeks). After 16 bars we slipped below the
overbought area, and after 6 bars, we came back above this zone.
Afterwards, we broke right through the overbought area, sharply to the oversold area.
The whole move since we broke initially to the overbought zone, till...
Looking at the price & stochastic RSI, we can see a situation that repeated itself back then in December 2017., and also now in June 2019.
we can see that the high of 20k signed an overbought on the stochastic RSI, the same happened on 24 june 2019.
Later, ob both cases, we went all the way down to oversold. after it we rallied up a bit& marked on the stochastic...