BTCUSD stochastic RSI shows possible imminent pullback.

16 Şub 2018

BTC is making great gains and we're all happy, but stochastic RSI on the daily chart is showing over bought and a crossover that signifies an imminent pullback. I have a long term support line at $9259 and the 200 day MA at around $8200. I would imagine tomorrow will be a red day for everyone. A similar stoch rsi situation has happened several times and was the start of a massive sell off. One exception was on Nov 28, 2017. We had a pullback and then continuation of the bullish trend. However, with the Chinese New Year tomorrow, it's better to be safe than sorry.

HV