BTC: Kissin' the RSI? What's Your Angle? (19°)
I know every bear and bull market is different and I hate to do this, BUT it was just too interesting to NOT compare this time and last time's "way to the bottom".
Kissin' the RSI?
If you observe, the RSI playfully kissed the oversold line once before going in for the "killer smooch". Will this happen again? Who knows.
What's Your Angle?
Both last time's and this time's angle of descent were both 19°, does it mean anything? Who knows.
In addition, IF the price this time bottoms at around $2,900, it will have decreased by approximately the same amount as last time: 85%. Finally, the price is also below the 100MA. Having one final capitulation sending the price to around that $2,900 level would also probably take Bitcoin's RSI well into smooching oversold territory; many boxes would be ticked. Will it happen? Answers on a postcard.
Cheers.
Kissin' the RSI?
If you observe, the RSI playfully kissed the oversold line once before going in for the "killer smooch". Will this happen again? Who knows.
What's Your Angle?
Both last time's and this time's angle of descent were both 19°, does it mean anything? Who knows.
In addition, IF the price this time bottoms at around $2,900, it will have decreased by approximately the same amount as last time: 85%. Finally, the price is also below the 100MA. Having one final capitulation sending the price to around that $2,900 level would also probably take Bitcoin's RSI well into smooching oversold territory; many boxes would be ticked. Will it happen? Answers on a postcard.
Cheers.
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