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.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.