BTC has matched it's 2019 high, and weekly volume is bullish. If BTC can close above 14k on the weekly, bullish volume will continue to increase. However, massive selling volume could be triggered by stop-losses that have been set betweeen 13,000 - 13,500. Until then, we are staying out of trades and have secured our profit for 2020.
Weekly RSI is above 70 -- traders with substantial investments focus on larger time intervals, and use the weekly RSI as a key indicator to enter and exit trades. RSI dropping to the lower 30s will signal a BUY ... (use a stop-loss)... and RSI reaching the 70s will signal a SELL. RSI is currently 72.4.
If you are in a trade, we recommend exiting your trade and securing your profit. Wait for a weekly close above 14k. This could be the BTC summit for 2020.
Weekly RSI is above 70 -- traders with substantial investments focus on larger time intervals, and use the weekly RSI as a key indicator to enter and exit trades. RSI dropping to the lower 30s will signal a BUY ... (use a stop-loss)... and RSI reaching the 70s will signal a SELL. RSI is currently 72.4.
If you are in a trade, we recommend exiting your trade and securing your profit. Wait for a weekly close above 14k. This could be the BTC summit for 2020.