BTCUSD Long
- Weekly stochastic RSI oversold (LONG)
- Daily Stochastic RSI overbought (Short)
My Opinion:
- For those who trade the daily chart, wait until the stochastic RSI crosses to indicate a shift in momentum to the upwards direction. We are likely to drop to the 7000 levels in a few days as we cool off from the recent rally. I would avoid shorting because it goes against the weekly overall trend which is bullish; simply put, the juice is not worth the squeeze shorting in the next few weeks. Longs only when the opportunity arises.
- For those trading long term (weeks or months), wait until the daily stochastic RSI crosses to indicate a shift in momentum to the upwards direction. We are likely to drop to the 7000 levels in a few days as we cool off from the recent rally. Then you should take your position with low leverage.
NB; This is not investment advice, just my personal opinion. I welcome any comments and suggestions or correction. Trading is a learning curve and I am always ready to hear/read the suggestions of more experienced traders. Forgive the accent, I am not a Native speaker.
- Daily Stochastic RSI overbought (Short)
My Opinion:
- For those who trade the daily chart, wait until the stochastic RSI crosses to indicate a shift in momentum to the upwards direction. We are likely to drop to the 7000 levels in a few days as we cool off from the recent rally. I would avoid shorting because it goes against the weekly overall trend which is bullish; simply put, the juice is not worth the squeeze shorting in the next few weeks. Longs only when the opportunity arises.
- For those trading long term (weeks or months), wait until the daily stochastic RSI crosses to indicate a shift in momentum to the upwards direction. We are likely to drop to the 7000 levels in a few days as we cool off from the recent rally. Then you should take your position with low leverage.
NB; This is not investment advice, just my personal opinion. I welcome any comments and suggestions or correction. Trading is a learning curve and I am always ready to hear/read the suggestions of more experienced traders. Forgive the accent, I am not a Native speaker.
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.