🔥 Bitcoin Stochastic RSI Signal +838% Average Gain? Bullish!
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The month has not closed yet, but it appears that the slow Stochastic RSI (orange line) will close above the 80 line for the first time since November 2021. I've made several bearish analyses over the last few weeks, but this one is a more bullish one (on average!).
Historically, once the orange line from the Stochastic RSI closes above the orange line it means that a pump is coming. 3/4 times a very decent move has occurred from the moment it went over 80, till it crossed below 80. On average, a +838% move has followed.
We can say with quite some certainty that a +838% move is out of the question. Still, the market has historically performed well.
Personally, I'm anticipating a move like in 2019, where the orange line reached above 80 and moved below it in the following month.
Is this bullish to you? Share your thoughts in the comments 🙏
The month has not closed yet, but it appears that the slow Stochastic RSI (orange line) will close above the 80 line for the first time since November 2021. I've made several bearish analyses over the last few weeks, but this one is a more bullish one (on average!).
Historically, once the orange line from the Stochastic RSI closes above the orange line it means that a pump is coming. 3/4 times a very decent move has occurred from the moment it went over 80, till it crossed below 80. On average, a +838% move has followed.
We can say with quite some certainty that a +838% move is out of the question. Still, the market has historically performed well.
Personally, I'm anticipating a move like in 2019, where the orange line reached above 80 and moved below it in the following month.
Is this bullish to you? Share your thoughts in the comments 🙏
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