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Stochastic RSI (STOCH RSI)

Bitcoin sitting at supportThese days have been a bloodbath in the cryptocurrency markets. These are the key support levels you could use to predict when it will reverse. RSI and Stochastic RSI for 1 Day and 4 Hours time frame have reached oversold. Should we fall bellow these keys supports, expect it to free fall to the 4000 dollars range, however it probably would not last long as people would probably stop mining, reduces the supply of bitcoin, and increase its price again. Good luck to you all!
BITFINEX:BTCUSD
by evntdra
PONY ShortUpwards breakout rejected. Short down at least to lower support line, in the $2.75 region depending on its rate of decline. Bearish cross on the daily Stoch, RSI very over sold. PPO moving down with some bearish divergence. Also remember that a rising wedge, particularly after some strong downward movement (as has just happened with PONY) is a bearish trend, and is much more likely to break down than up. This makes shorting the highs a lot safer than trying to buy at support. In this case, as I said, the first target is this lower line, with the hope no support is found and the pattern breaks downward. If that happens, our targets are the old areas of support found in the rising wedge (around $2.50 and $2.10) My opinion not financial advice
PShort
by green_brow
Two Outcomes.Looking at the 1day chart you can see that if we were to break upward here we would be forming a higher low on the 1 day chart and that also the inverted head and shoulder pattern is still in play. However the stochrsi on the 1 day chart has plenty of room to dip still. I think we could still be forming a 1 day inverted head and shoulder pattern however if we were to break downward from here I think we would bounce upward off off the bottom trendline of the symmetrical pink triangle as support around 6k. At this point either outcome is probable and thus this idea will be listed neutral.
BITFINEX:BTCUSD
by DrDovetail
1
Potentially inside a rising wedge.If this continues to play out this way there is a good probability this wedge could drop the price back down to the support zone of the 4hr 50ma(in orange). Whether or not the 50ma will maintain support if it breaks own tot hat level is the question. Of course we could always break upward too but I won't be confident of that until the 4hr rsi and stochrsi are low enough with the price action close enough to the 4hr 200ma(in blue) and the top trendline of the symmetrical triangle we are in (in pink) to be able to have enough momentum to surpass them both and trigger a breakout. As of now both those indicators could stand to be a little lower before the next upswing. If the upswing happens before they drop, it's very unlikely we will break out of the pink triangle.
BITFINEX:BTCUSD
by DrDovetail
A nice bounce up off the 4hr buy/sell line a nice bounce upward off of the 4hr buy/sell line, As I've said int he past once we've hit 5 consecutive candle closes above the buy sell line, it's usually more of a buying opportunity than a selling opportunity. We currently have nine 4 hr candles in a row above the buy/sell line(in orange). This also give the stochrsi and the rsi a chance to cool down to give them more room to climb here. What I'm hoping to see is for the candle to find a way to climb back above the 4hr t line(in yellow either by this candles close or at least by the candle following this one. If that happens that means this bull flag on the 4hr chart is still valid and the current red candle was simply a fakeout. If we don't get close to the t line by this candle's close however then there's a chance we could still fall under the buy/ sell line by the next couple candles, and if we closed 5 consecutive candles under that line we would be back in a sellers market on the 4hr chart. For now since it could potentially head either way I will keep this idea listed as neutral. This is as always not financial advice and simply a summation of what I plan to do for entertainment purposes only. Good luck and thanks for reading!
BITFINEX:BTCUSD
by DrDovetail
Potential Inverted Bart could take us back to $7300Just got a nice bull candle to end the day on the 4hr chart that took us above the current bearflag we were in and turned it into an inverted Bart. However, in order for this break to eb confirmed and not just a fakeout we need to see. the new 4 hr candle maintain itself above the 4hr t line(in tan). the potential climb is $7300 with the rsi and stochrsi where they currently are it's not out of the question for that kind of bounce...however until I see a series of higher low, higher high and a follow up higher low I won't be tempted to go long again on the idea strategy. I have indeed bought back in here at 6750 after exiting round 7632. However I will probably safe guard myself and exit again after this bounce then only entering again if we have another huge plummet or we form a higher low/higher high/higher low sequence. Just my style and not meant to be financial advice..so far it seems to be working out for me. The Cup and handle on the eve bottom seems rather unlikely now but technically not invalidated until price dips below bottom of the cup...however I think there's still a chance of the adam and eve double bottom being valid...or potentially us forming a triple bottom....the double bottom is definitely questionable at this point with this low of a dip however...so the smartest strategy I have to rely on at this point is the higher high/higher low and vice versa strategy...It tends to work better than anything else I do so when things are uncertain I trust that above all else.
BITFINEX:BTCUSD
by DrDovetail
BTCUSD July bullrun?Hello again! Today i would like to share with you an idea on BTCUSD I found out there are 2 scenarios that are most likely to happen First, is we follow market structure using the blue line as our support and restistance, which basically means, currently we are sitting at the support level. By following this blue line as a support, we could expect a breakout of the market structure. The second one is that if we fall below the blue line, expect to see a drop to around 7800 ish before bouncing up again. Fibonacci retracement then would then be used in order to determine the support/resistance levels. As for the RSI, it is still low, and also the stoch RSI has already become bullish. This is not a financial advice! Comments and feedbacks are appreciated! Thanks
BITFINEX:BTCUSD
by evntdra
BTC: Bear Flag, 200EMA and RSI says DOWN!Been a while since the last update, I've been quite busy although I kept reading stuff here and there. BTC is developing a bear flag BELOW the 200 days EMA. This mainly means we are going down! Stochastic RSI shows a fast invesrion from the overbought area down to zero. Personally I would set a target price around 7200, close to the strong trailing support level highlighted in "pink". As a side note we always need to take into consideration that this market is highly manipulated and almost anything can happen. I'm waiting for a breakout towards the bottom of the bear flag as a trend confirmation. ***As usual, this is not a trading advice.. It is merely my idea for educational and informational purposes only***
BITFINEX:BTCUSDShort
by SteveEnnom
StochRSI and RSI Trading Strategy This is a strategy that is based around using the general value of the RSI to determine the trend and then using the Stoch RSI to pick and entry point. It also uses the RSI to determine a profit taking point or exit point from the trade. This version doesn't have a stop loss other than the signal to trade the opposing direction. Therefore it is more effective in higher trading time frames like Daily and Weekly. I have also added the function of selecting the time frame for which the strategy is applied to.
BITFINEX:BTCUSD
by Bluephantom
5
Possible BTC recovery signs??BTCUSD : DAILY Are we seeing a the clouds clear up?? If we fill out all of these scenarios we may see some serious recovery happen over the next month as we approach the tip of this wedge. I am seeing a Head and Shoulders pattern possibly fill out here pending some ideal conditions: - Stoch RSI double bounce, cross, and separation due to oversold condition signaling bullish movement upward. - RSI staying above or bouncing off of 32 level and increasing strength into the bullish zone. - And most ideally, a MACD crossover as close to, if not on, the Zero line. I see this consistently, MASSIVE bullish movement after a MACD cross ON the zero line. Oooooofffff course....... it could very well break out below the wedge, but that's not a happy thought. Plus I prefer to make rockets on my charts, not missiles =) The price might bounce off of the $7510 resistance, but will likely hit the $6950 to $7000 range before it begins recovery, this is kissing the current trend line as well as a strong resistance intersection point. Assuming these conditions are met and the price doesn't jump off of a cliff, we need to see some consistent closes above previous resistance lines, and hopefully we will see a positive breakout of the wedge come end of March or beginning of April. However, if it drops below that trend line, the next identified support is at the $6100 to $6200 range. Fingers crossed that I will not have to reevaluate due to those conditions..... I seriously put a lot of work into my rocket. -Spreck Standard disclaimer: This is not financial advice, just ramblings of some dude that likes looking at, and drawing on graphs.
BITFINEX:BTCUSDLong
by spreck
3
BTCUSD - Possible Short Term Increase to $13,202I am continuing my practice, so this shouldn't be advice that is actionable and is more of a thought exercise. This time around, I'm focusing on BTC pricing as I have roughly half of my holdings in BTC at the moment. Being a newbie, I did not have any idea about the need for liquidity to help with buying the lows, so I am looking for an opportunity to sell 25% of my BTC holdings when I am in the positive. I bought in mostly around $14,000 to $16,000 and did not know I should have sold closer to 18/19,000, so am currently at a loss, but that's ok since it's a lesson to me about crypto markets. It came at a cost, but is applicable inside and outside of crypto markets. The early signs of a pennant began soon after I started working on this chart and have progressed thus far in a way that fits into my initial belief. My understanding with bull pennants is that they are a variation on flags, but have a triangular shape rather than a rectangle pattern and generally continue upwards if completed properly. The caluclation for measuring the next potential increase in to take the difference of the poll from the top and bottom of the pennant. Top of pole/pennant: $12,688 Bottom of pennant: $12,219 Bottom of pole: $11,628 Difference of bottom of pennant and bottom of pole: $12,219 -$11,628 ---------- $591 Top of flag/pennant: $12,688 +pool Difference: $591 ----------------------------- $13,279 This is a bit above CoinTelegraph's prediction of $13,202 based on a head and shoulders pattern. ( cointelegraph.com ) TA NOTES: SUPPORT/RESISTANCE: -Red lines are resistance lines that are target breakthroughs for movement to a higher sustained level. -Orange lines indicate suport/resistance lines. If bottom orange line is broken, the the pennant may be in danger. -The lower blue line indicates the breaking into a downwards pattern the may post a higher higher, but it will be below $13,000. BOLLINGER BAND: -Band indicates that value is there, but mid line is about to have a cross in it that can indicate a downturn. RSI: RSI indicates fairly oversold, but with a movement downwards. STOCHRSI: StochRSI indicates possibly slightly oversold, but there is movement into the 0 line, meaning it is neutral.
COINBASE:BTCUSD
by Desreversti
Deka MDAX reversalMultiple indicators show a potential for a reversal or at least a retracement: - a rally started around February 2016, that broke resistance in December to continue with a bump (see the slope of the purple lines). This could be a typical "Bump and run" pattern - second top of a double top forming now, could confirm the reversal - Stochastic RSI 20 days moving average moved below 50, hinting a future trend change The bump, the double top and the StochRSI moving average all signal a trend revarsal. Plus, there hasn't been a real retracement since the all time high that was reached after the rally started. In case the trend identified by the Lead-in line is broken, the reversal could be confirmed, with new support at 234. Definitely not a good time to buy, but still a strong uptred is signaled by the Ichimoku cloud. This could end up simply in a retracement to 221 (61.8 fibonacci), also a potential entry point. Keep the eyes open.
XETR:ELF1Short
by sirnicolaz