The 4h chart and the 1d chart of BTC (RSI, Coppock, OBV, DMI, TSI and Aroon, MACD) show somewhat different outcome for BTC:
- based on the 4h it is possible that 15k was/is the bottom for BTC and DI+ times are coming,
- however based on the 1d, there is strong chance for further down to 12k or a long consolidation period.
The charts shows the 12k scenario: Coppock goes close to zeroish, RSI goes down to 30, MA42 stops the downtrend. (Yet, if I take the weekly DMI than there is ~20% chance that BTC might break that line and may go down further...)
Since BTC has had a superlong and superstrong DI+ period for a month, I would say 12k is likely, yet the superincreased OBV and hype might stop it at 15k now....I have no idea.
But, there is bigger concern for me: I have problem understanding that since Dec, BTC-LTC-ETH 1w correlation is 0,9, which is hyper-high, from this perspective these coins are "one", which is super-unhealthy, I think. Why are they so super-correlated? Will it remain that way? Ideas? Why people panicking about LTC/ETH when BTC falls? (The conversion only shall not explain this 0.9, there are not interconnected system in real life, but in the exchange they are. Why?)
- based on the 4h it is possible that 15k was/is the bottom for BTC and DI+ times are coming,
- however based on the 1d, there is strong chance for further down to 12k or a long consolidation period.
The charts shows the 12k scenario: Coppock goes close to zeroish, RSI goes down to 30, MA42 stops the downtrend. (Yet, if I take the weekly DMI than there is ~20% chance that BTC might break that line and may go down further...)
Since BTC has had a superlong and superstrong DI+ period for a month, I would say 12k is likely, yet the superincreased OBV and hype might stop it at 15k now....I have no idea.
But, there is bigger concern for me: I have problem understanding that since Dec, BTC-LTC-ETH 1w correlation is 0,9, which is hyper-high, from this perspective these coins are "one", which is super-unhealthy, I think. Why are they so super-correlated? Will it remain that way? Ideas? Why people panicking about LTC/ETH when BTC falls? (The conversion only shall not explain this 0.9, there are not interconnected system in real life, but in the exchange they are. Why?)
Transaction en cours:
The drop to 12,5k was way faster than I predicted, making RSI 4h lowest, which means we might hit the bottom.
Transaction en cours:
I got in early, 5mins RSI seemed stronger than I thought, 5mins RSI changing now. (RSI and its EMA).
Transaction en cours:
I sold current high, minimizing my losses, because in my interpretation of Coppock(w,d,h), RSI-RSIEMA, tells that, here is still more going down the rabbit hole... I might be wrong. Again this is not a trading advice. Calculate risk, predict, analyze and have fun!
Transaction en cours:
Based on 1w RSI-OBV-Coppock, I believe that there is further downside likely to come. Which I said previously as 4% is now 52%.
This was/is NOT a trading advice from me. Always use stops, try to avoid FOMO, calculate risks and happy holidays!
This was/is NOT a trading advice from me. Always use stops, try to avoid FOMO, calculate risks and happy holidays!