BTC Monthly, uncharted waters
Trying to time corn again out of indicators, and historic patterns, sounds a bit silly at this tie, but as the title says, uncharted waters.
On a Connors RSI every period spent on the overbought zones ended with a touch back at the 7 SMA. I noticed a pattern of 3 periods with different lengths where this happened. If the pattern is to repeat it self this should drag on for through Feb, due to the DMIADX indicator has just signalized the uptrend movement, and in march we get that touch back on SMA, really difficult to set a price target but those touches are around 30~50% retraces. We could still see a touch there by late this month or Jan. In any case, just a thought for longer term, trying to time the next big moves.
Not financial advice.
On a Connors RSI every period spent on the overbought zones ended with a touch back at the 7 SMA. I noticed a pattern of 3 periods with different lengths where this happened. If the pattern is to repeat it self this should drag on for through Feb, due to the DMIADX indicator has just signalized the uptrend movement, and in march we get that touch back on SMA, really difficult to set a price target but those touches are around 30~50% retraces. We could still see a touch there by late this month or Jan. In any case, just a thought for longer term, trying to time the next big moves.
Not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.