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Overbought

Bitcoin oversold .. will it correct? Lets see..Just an idea but you can see how heavily over bought BTC is on the weekly .. currently over the 90 RSI. You can see that I circled other RSI periods where Bitcoin was over a value of 90 and how it soon corrected afterwards.. the longest period Bitcoin hovered over 90 RSI was in the 1st 'bubble' which lasted for seven weeks before taking a dive. Same thing with the 2nd 'bubble' which also lasted 7 weeks. 3rd bubble lasted 2 weeks. In our current state of being over bought, labelled 4, we are 2 weeks in an over bought RSI over 90. If Bitcoin is nearing a correction then $19k support would be a good area to add buy orders, also the golden ratio fibs. A correction might not come for a few more weeks as per the first and second RSI bubbles show but that was when Bitcoin was a hell of a lot cheaper than it is now, so it makes sense that people would begin taking profits a lot sooner today. After a 920% gain since March, I don't think a 50% correction is out of the question but we will see!
BNC:BLX
by Secret_Cervix_Agent
2
Crypto Keeps RunningIts crazy, the run the crypto markets have been on. Its just nuts. But its still going and going strong. Let's take a look at a few coins. Bitcoin Blasting past $41k, its been mind blowing, the support behind BTC recently. Looking at our D+ indicator, we can see how overbought levels have made small dips in price over the past few months. (I like the 3h chart). But even on this 1h chart we can see the D+ cloud growing and shrinking, staying at relatively the same level. This is a good sign for growth, and that steady support is still here. Ethereum Just as crazy as Bitcoin, ETH has been on an amazing run as well. I wish I bought more! (But hey, who doesn't?) On the ETH chart is the Raygun script, showing support and resistance levels. What's cool about Raygun is you can see price helix around these levels, and use the colored dots to visualize which way its going next. You see all those big green dots in a row along the red dotted line? (The red dotted line is a S/R level.) Seeing all those green dots is clear support at $1170. Its been tested multiple times and continues to hold. Looking good for ETH. Nano This coin popped on my radar recently as a coworker of mine mentioned he is still holding a bag from 2017. I'm not sure how much he lost back then, but I bet he's made it all back and then some in this run! Here, with the Auto Fibs script, NANO is showing perfect fibonacci retracement price action. It rose up to a high, retraced back 50%, then turned to continue upwards. Now, its playing with the 23.6% which seems to be holding as support. We'll have to keep an eye on NANO and this fibonacci script levels to see how its going to behave. All in all, this has been a crazy run. I'm still long, and of course wish I had put more in to my crypto bags. When will this run end? Who knows. its a different game being played now in the crypto space it seems. Do you sell your bags now and run, locking in your profits? Or do you hodl and wait to see what happens next? If the latter, just be sure you have a good script or indicator you trust to alert you to get out when things turn. I'm still in...and watching these scripts closely.
COINBASE:ETHUSDLong
by marketscripters
2
BTCUSD - update - previous buyHello everyone, if you like the idea, do not forget to support with a like and follow. as per our last video analysis, we were waiting for a new swing to form around the red trendline to consider it valid and then buy on its break upward. While clearly didn't happen, so our entry would be after the previous swing high (updated via live streaming) as you can see resulting in a bigger stop loss. This buy reached +1R so now we are holding the buy with our stop loss around breakeven, and waiting for the take profit +2R to be hit. and of course, as price approaches the upper gray trendline (which acts as an overbought area) we can always close the trade in profit around +1.7R. meanwhile, BITCOIN would be overall bullish and we will be looking for new buy setups to form on the retest. Good luck! ~Rich
BITSTAMP:BTCUSDLong
by TheSignalyst
24
#BTC #Bitcoin AnalysisBitcoin broke the resistance of the previous ATH with a volume higher than the previous one, although not the largest of the full cycle. A bullish channel has formed that had two small breakouts with throwback. The price action is above $ 34,000, which remains above the support of $ 33,300 the probability of continuing to rise remains. In addition, the overbought pressure indicated by the indicators has decreased, which could lead to a continuation of trend (some divergences are no longer important). However, if momentum falls, we could see a pullback again that would move between the $ 30,000 and $ 33,300 supports, and the simple moving averages that would act as dynamic supports.
Long
by jumperstars
ETHUSD - Are we about to reach ATH?Back on 21 NOV 2017, Ethereum shows some promising upward movements. However, on November 27th an alert for exhaustion occurs (red triangle) and all the other indicators are appearing heavily overbought. What I would like to point out is that DESPITE looking exhausted, ETHUSD kept climbing parabolically all the way until 7th of January 2018 ! I see similar chart patterns and similar indicators and I think it is safe to say there is a HIGH PROBABILITY that Ethereum might see a major outbreak in the next few weeks. Please hit 👍 if you found this helpful or interesting, many thanks ! Best Regards, Ev
COINBASE:ETHUSD
by BlockTechEv
4
Bitcoin: Why Doom Might Be Upon UsBitcoin's record-breaking growth has gone far from unnoticed. It took a mere 18 days to go from the last ATH of $20k to the most recent one of 34.7K. Today, the weekly RSI is displaying a strong downward turn after a record value of 94.5, severely overbought. To see what is next, we will take a look at the 2017-2018 market rally. Here, the RSI was strongly overbought (>80) on several occasions. Every occasion led to a short term sell-off of around 38% on average. Seeing that we didn't have a sell-off yet after the RSI displayed values of more than 80, now might be the time. Assuming Bitcoin will drop 38%, the price might drop to $22k, potentially hitting the strong support at $20k. After the RSI drop, Bitcoins value rallied most of the time, so waiting for the RSI to cool off might be a great investment opportunity in the long term.
COINBASE:BTCUSDShort
by FieryTrading
2
BTCUSDT 4H | Bitcoin market overview: It happened!Hello, dear subscribers! In the previous review, we considered the breakdown of the $19,400 zone as a bullish signal, which will mean the continuation of growth. To our surprise, not only the growth continued, bitcoin made a powerful move upwards, showing a maximum of $23,800. After that level, the buyers' forces weakened, and now bitcoin price is in the corridor of $22,000 - $24,000. From below, the support zone is $22,200 - $22,600. Above is the resistance zone - $23,600 - $24,000. If you look globally, the bitcoin price in case the bears attack, has rather deep support levels - $20,600 and $19,600. According to the MACD and RSI indicators, the market is strongly overbought and the price is staying in a flat before the next price movement. OBV indicator before the beginning of growth showed a decrease in the volume of purchases, after the start of growth showed a sharp surge upward, indicating a strong influence of buyers. Based on the technical data - growth remains the priority. The range of price movement is quite high - it is about $2.000. Market participants should be ready for sharp movements, and not to lose their heads in case of sudden shedding or sharp growth. Subscribe to the channel and stay tuned!
by CatalystsFinance
CHFJPY Inversion Confirmed after a DOUBLE BOTTOMTECHNICAL ANALYSIS: -The price was moving in uptrend, strong volumes, high volatility and momentum confirmed this big movement, once it reached the resistance zone at 113.290, the level rejected it twice, make the market falling down. -The price then bounced two times on the support level at 113.802, creating a clear DOUBLE BOTTOM Pattern. During the second bounce, the price was oversold and accumulating a strong momentum, in fact it started going up failing the retest of the same support. -The price actually is not strong enough to carry on, it started an inversion and it seems to be confirmed by 3 clead DOWN BARS. CONCLUSION: I aspect the price falling down for at least 100-120 pips, monitoring also the H4 time frame we can see that the price broke the Ema 50, restesting it. let me know if you like my idea, leave a LIKE, COMMENT AND SUBSCRIBE for more FREE Analysis like this! trade safe! Gianni
Short
by FXtrades-gp
4