I'm new to Tradingview, so I'm not sure how my charts look for you guys. On my last posts they seem to be messed up, so here are hopefully the 1D en 1H charts that I'm looking at.
The price is now in the upper region of the Bollinger Bands, both on the short and long term. Together with the RSI on the 60 line in the 1D chart and in overbought position on the 1H...
On the daily charts we see the RSI approaching 60 and a decline in volume. Also on the hourly charts we see the price approaching the upper Bollinger Band, decline in volume and an overbought situation on the RSI. The exchanges will likely push the price a bit more up to sell into the stop-losses of traders that shorted around 6400-6800. This will push the price...
We could expect some more volatility, due to the fact that a growing number of less experienced traders entered the market lately. But we can see the pattern repeating itself. We have got the low already, although it overshot our 5900 mark and went all the way down to 5500. This could be explained by more panic sellers, as stated earlier, in the market at the...
Every jump a pattern emerges. From the exponential growth line, the candles move up to the overbought zone. The divergence between the RSI and trend line, and the simultaneous cross-over of the MACD, indicate a correction towards the exponential growth line, after which it continues to go up to the overbought zone again.
From this pattern I conclude that the...
