Weekly Rsi on critical Point
Updated
Since 2011 to 2018 we went once below Weekly RSi of 45.
We had a bear market of 300 days once we drop below(August 2014 to July 2015 Bear Market).
Also the price of 6900-7100$ lies the 200 days simple moving average ( on the daily chart) also Horizontal support since the bull run.
i have it drawed on some of my other published Posts.
I think its very important for you guys to take a closer look at this, im slowly turning bullish from here. Not saying it cant drop to 5500-6000$ but I have no interest to find the perfect bottom.
We had a bear market of 300 days once we drop below(August 2014 to July 2015 Bear Market).
Also the price of 6900-7100$ lies the 200 days simple moving average ( on the daily chart) also Horizontal support since the bull run.
i have it drawed on some of my other published Posts.
I think its very important for you guys to take a closer look at this, im slowly turning bullish from here. Not saying it cant drop to 5500-6000$ but I have no interest to find the perfect bottom.
Note
We was right about the weekly RSi trendline, didnt go below 45 on the weekly, we also added to our BTC stack for swing trading around that level and are about 100% in plus, selling 4o% off, rest wait for confirmation..THere is a channel between 6300$ - 9000$ forming, we can swing trade along these prices.
For me to turn bearish the price has to go below 7700$, to turn bullish btc has to up towards 11500 and break the strong resistance with volume.
otherwhise i just swing trade in channel area.
cheers
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