Hello Crypto Family,
We already know about the Price Triangle, and most probably you have noticed that MACD and RSI are in a similar Triangle. If not, check the chart, breaking these lines will be huge for BTC.
I want to offer you a new perspective so let's look at my new Indicator.
V-Laguerre/Stochastic RSI
Laguerre and Stochastic RSI are well-known Indicators, to make them easier to read I've written myself a script to overlay both of them in a single indicator.
(You don't need a script to overlay them since TV support overlaying indicators, depending on your Tradingview version, you might have some limitations.)
If you look at this Indicator, every time Laguerre RSI was in the oversold area, and Stochastic RSI started to rise, we had a move up in price. Also, every time Laguerre RSI was in the overbought area, and Stochastic RSI started to drop, we had a move down in price. (Daily)
I'm more leaning to bullish than bearish on Bitcoin, waiting for the breakout and confirmation.
We already know about the Price Triangle, and most probably you have noticed that MACD and RSI are in a similar Triangle. If not, check the chart, breaking these lines will be huge for BTC.
I want to offer you a new perspective so let's look at my new Indicator.
V-Laguerre/Stochastic RSI
Laguerre and Stochastic RSI are well-known Indicators, to make them easier to read I've written myself a script to overlay both of them in a single indicator.
(You don't need a script to overlay them since TV support overlaying indicators, depending on your Tradingview version, you might have some limitations.)
If you look at this Indicator, every time Laguerre RSI was in the oversold area, and Stochastic RSI started to rise, we had a move up in price. Also, every time Laguerre RSI was in the overbought area, and Stochastic RSI started to drop, we had a move down in price. (Daily)
- At the moment, the Stochastic is rising and Laguerre RSI has enough room to move up.
- If you look at the V-Laguerre/Stochastic RSI indicator, I've marked 3 different phases (in different colours). It looks like BTC is repeating this phases since Feb.
I'm more leaning to bullish than bearish on Bitcoin, waiting for the breakout and confirmation.