EhhEhhRon

Upcoming Stochastic RSI Cross (Weekly)

Long
COINBASE:BTCUSD   Bitcoin
We are on the verge of a bullish cross on our weekly stochastic RSI. As you can see, this cross is always followed by a relatively large movement in bitcoin over the following week(s). IMO, we won't see massive bull run like gains....but we could see an easy 30%+ gain similar to October 2019 (green arrow). Similar to that time period, I think we have a short cool down before another cross that leads us to the promised land. Remember though...these are weekly candles. If you were to look at a lower time frame, there is quite a bit of volatility within these candles and you should manage your risk accordingly.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.