Bitcoin: How low will you go? Correct to what?
I though it would be interesting to compare similar parabolic moves in Bitcoin's past and see where they corrected to regarding two things:
+ RSI level
+ Support & resistance zones
RSI Level
Simply put, after such a powerful move up, there is a good chance of the RSI going down below 40 before rising again
Support & Resistance Zones
As you can see, the price clearly retraces (including wicks) to the strongest resistance zone on the way up
This is what I look at when deciding when to buy something. Keep it simple.
+ RSI level
+ Support & resistance zones
RSI Level
Simply put, after such a powerful move up, there is a good chance of the RSI going down below 40 before rising again
Support & Resistance Zones
As you can see, the price clearly retraces (including wicks) to the strongest resistance zone on the way up
This is what I look at when deciding when to buy something. Keep it simple.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.