Hi Guys,
This is an educational technical analysis of BTC. Specifically the BTC/USD pair from the "Coinbase". I will be using the 12 HR chart specifically for this post.
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Leading up to the BTC bubble, there were a lot of "peaks" on the lower end of the RSI which was then followed by the RSI making peaks on the high end. This is a direct indication of volatility (the kind that we need). It's also worth noting that at the time of these events, there was no need for massive price drops for us to get the upwards momentum needed in order to form a long term bullish trend. Please view the image below as a reference:
Fast forward to Nov 2018 and we haven't had volatility like this since Sep 2017. Could this be a good sign? Could be, however more than likely the market will have a very slow pickup unless we see large volume orders come in.
This is an educational technical analysis of BTC. Specifically the BTC/USD pair from the "Coinbase". I will be using the 12 HR chart specifically for this post.
---------------------------------------------------------------------------------------------------------------------------
Leading up to the BTC bubble, there were a lot of "peaks" on the lower end of the RSI which was then followed by the RSI making peaks on the high end. This is a direct indication of volatility (the kind that we need). It's also worth noting that at the time of these events, there was no need for massive price drops for us to get the upwards momentum needed in order to form a long term bullish trend. Please view the image below as a reference:
Fast forward to Nov 2018 and we haven't had volatility like this since Sep 2017. Could this be a good sign? Could be, however more than likely the market will have a very slow pickup unless we see large volume orders come in.