Bytecoin trend channel

POLONIEX:BCNBTC   Bytecoin / Bitcoin
Posting some technical analysis as I see the markets about to take off and want to share my thoughts.
Bytecoin panic is over and now I see a bounce at the .786 Fibonacci divergence on the RSI now waiting for the breakout in descending resistance.
Good to buy now?
JoeFares obainosoft
@obainosoft, RSI is currently overbought! I doubt that this could be a good entry.
+1 Antworten
@JoeFares, Hi, newbie here Joe, can you briefly explain how something is overbought? Thanks.
@JoeFares, look at the last bottom of RSI and the instrument and compare it with the bottom now. The signal is clear for me: bullish divergenz. Plz google it, if you don`t know it.
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