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Overbought

[Signal] GBPCHF: Delayed Brexit is Positive? Nahh..GBPCHF Timeframe: 1D Direction: Short Confluences for Trade: - Stochastic Overbought momentum (1D, H4, H1) - Price action at Resistance of Parallel Channel - Price action close to Another Horizontal Resistance Trendline - Widening gap of EMA - Fundamentally, uncomfortable to hold a Long GBP position because of Brexit uncertainty; to us, a delay in Brexit transition is still going to be bad for the UK economy as corporates are not going to do any capital expenditure to improve GDP. Suggested Trade: Entry @ Area of Interest 1.3045 - 1.3165 SL: 1.3309 TP: 1.2602 RR: Approx. 2.56 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Short
by weekendanalyst
BTC: It will go sideways until next dropSo I was wrong, I overestimated BTC. I knew one thing certainly: That the weekly Stoch RSI would have to go into overbought zone again, because it hasn't been there since a far too long time. And that is indeed happening exactly as I thought. However, the way it is happening, is different: Not through a strong bounce, nay, but by going painfully sideways, with a very slight tendency upwards, so that we still go to overbought territory. This is of course genius, because by that, BTC can start the final drop from much lower, 4000 instead of 5000. Therefore, the bottom will be consequently also 1000 USD lower than I thought. In my previous analysis I identifited the MA300 as solid support, at around 2400 USD. However, I think it will be penetrated downwards for a short while, could go as low as 1600-1800 USD. But it will strongly bounce above MA300 and the weekly close will be above MA300, so that it indeed will furtheron act as strong support. It might do a double bottom like structure with a second drop a few months later, similar to the bottom accumulation zone in 2015. I am still watching daily transactions, we are still below ATH, so I don't see any reversal yet. Halving date is now end of May 2020, so still plenty of time till there. And still many people post charts about this being the bottom, therefore I am pretty sure that it won't be the bottom, hehe.
BITSTAMP:BTCUSDShort
by SebastianofMoon
18
BTC update on daily and weekly timeframeBTC wants to go to overbought again on weekly timeframe. It would be ultra weird if not. Weekly stoch RSI has not been on overbought since a very long time, probably the longest time in BTC history. It needs to be overbought again on weekly, so that it can prepare for the next dump, which hopefully will be the final one. At least there is a high probability it will be. On the daily timeframe I see it dragging on still for a bit, until upward momentum is established. Sort long ration is already turning again towards shorts, slowly, but still noticeable. Well, I still think we'll see 5000-5300 in the next weeks, probably until the end of february. Then creeping sideways and the final leg down.
BITFINEX:BTCUSDLong
by SebastianofMoon
9