Stoch/RSI seems to signal that BTC will continue to follow the downward trend line potentially to 10k-9k before any upward momentum is created. Looking to buy back in around that zone. If anyone has any conflicting views I'm all ears. I am here to learn!
Stoch RSI can stay high for few days. look at your chart from Jnuary 18th to January 20th. I dont mean bitcoin is going to go up. I mean just because stoch rsi is high, we can not say bitcoin wont go up...
Tomcos76
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@Esmaeel, I agree with you on the aspect of the Stoch RSI being high shouldn't be the only indicator to follow. But along with the trend resistance line being so close, along with the Stoch/RSI being high, I think it'll hit another significant drop before going up. There also is a rising wedge. We'll have to wait and see. I appreciate your input on the idea!
Esmaeel
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@Tomcos76, I agree that we will have another drop before possibly going up. I wish I had cash ready to buy in that dip :D
Tomcos76
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@Esmaeel, Depending on how this goes, may sell and buy back at a lower price.
Esmaeel
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@Tomcos76, I dont have the courage to do so lol. In the past I did few times, then the price went up and I kept saying it will come back down. Never came back :))) I may sell 30 percent or 20 percent of my coins. This way if it goes up or down I will be happy