Bitcoin: Please look at the last time RSI has been in oversold territory in the daily chart. Could it be there the starting point of a new progression? Could it make sense? I don't know, I am not a professional trader and these are only my personal ideas. Thank you for reading and for sharing ideas.
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The idea is the following:
1) Price will keep falling until RSI arrives in oversold territory
1) Price will keep falling until RSI arrives in oversold territory
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Sorry let's start again...be patient...I am getting confused. lol
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1) Price will keep following actual trend until RSI arrives in oversold territory
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2) At a certain point it will hit a support and pause.
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3) RSI will continue descending whilst price is supported
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4) The more RSI will stretch, the more powerfull will be price next move
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5) And this energy will help BTC to resume it's progressive growth once MACD and RSI confirms it.
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Too simple? lol
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I must learn to control my self-ego. Sorry for last comment.
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Like an elastic. Not joking. lol
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From there I can see the momentum growing of bulls coming back. That would be really nice. lol
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Need time and patient but lots of opportunities if it unfolds this way. Let's see.
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How has been the sentiment these days? Was it good enough for a start from the 10K support? I dont know.
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RSI may get there if price complete the double bottom I posted here:
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The double bottom would then be closed on 78% fibonaccio. A double bottom there will be like two solid columns for the future of BTC if buyers jumps in.
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To me it seems an enternity looking at such longterm timeframes. lol