Bitcoin RD RSI Daily Sell Off Signal - Will it Be Answered?
Updated
The first concerning thing from the day timeframe from a LONG perspective is yesterday we have a triangle RD RSI signal and pattern that has formed.
Unless answered by a green candle counter RSI signal (most likely on the slow momentum check) we'd expect 60m SHORT bias and momentum to hold.
Weekly open within sight of being lost with 240 RDA as the next reaction zone. It should be clear based on the RDTS how to trade this, also verify via 4D timeframe.
Downside reaction areas:
SM: 26,900
RDA: 23,300 (aligns with S&R highs)
Upside extension target is RDA extreme at 31,600 or so.
Unless answered by a green candle counter RSI signal (most likely on the slow momentum check) we'd expect 60m SHORT bias and momentum to hold.
Weekly open within sight of being lost with 240 RDA as the next reaction zone. It should be clear based on the RDTS how to trade this, also verify via 4D timeframe.
Downside reaction areas:
SM: 26,900
RDA: 23,300 (aligns with S&R highs)
Upside extension target is RDA extreme at 31,600 or so.
Note
The counter to this idea is the 240 is holding the RDA (yellow) - free indicator here on TradingView. The overall structure of the 240 looks good.The most important level is the JUNE 2021 pivot low around 28,600.
Note
The next day closed inside with no counter signal... but as usual watching the 60m for momentum clues held.We see here an alpha candle recaptured the weekly open. Also early print on the RSI counter signal on the daily. If that does signal will make the previous signal invalid but often in areas of indecision you'll see signals fighting with each other.
Simple answer if you are trading this. Use 240 as structure, 60m as confirmation and if you want intraday hit the 5m or 15m:
Note
still hasn't been answered. At this time going thru all timeframes the 240 is the best to watch, clear pattern forming here and still holding the RDA:Trade active
Who Doggy, we got a counter green RSI signal, creating a new triangle pattern.Doesn't mean anything until we have confirming price action, but all RDTS indicators show bias and momentum long:
60m one to watch for overnight:
28,975 key area on upside:
Trade active
I know much much lines, but 240 hiolding up well on this impulse BTC has made. Trying to hold that 30K level
The RD RSI signal really provided some good edge there, with confirmation for the next impulse up
Aligned with everything we watch in the system.
If you trade the system it's clear what to watch and what levels are key.
Get the best... join my Discord: discord.gg/WgjsxVz
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