Is Bitcoin Overbought on the RSI a sell signal?
Bitcoin -
BTC
Short term BTC Chart that's not really my style but I thought it was interesting.
We are on day 13 of being overbought on the RSI. In the 3 examples below, recent history suggests we can remain overbought in the RSI for 23-26 days on average (12th - 14th Nov)
Please recognize that in past bull markets the RSI remained oversold for much MUCH longer and I am long term very bullish with a long term spot position.
This is just something I observed. We are against stiff resistance here at $35.2k and we have more at $39-40k. Now we are aware that we can have another 10 more days of potential price upside regardless of RSI being oversold, however trades on shorter timeframes might look at the latter end of the 10 days window as a taking profit /de-risking opportunity.
Just something i noticed and thought i would share because an oversold RSI would put anyone off, but with BTC it can stay there a lot longer than you might think.
PUKA
BTC
Short term BTC Chart that's not really my style but I thought it was interesting.
We are on day 13 of being overbought on the RSI. In the 3 examples below, recent history suggests we can remain overbought in the RSI for 23-26 days on average (12th - 14th Nov)
Please recognize that in past bull markets the RSI remained oversold for much MUCH longer and I am long term very bullish with a long term spot position.
This is just something I observed. We are against stiff resistance here at $35.2k and we have more at $39-40k. Now we are aware that we can have another 10 more days of potential price upside regardless of RSI being oversold, however trades on shorter timeframes might look at the latter end of the 10 days window as a taking profit /de-risking opportunity.
Just something i noticed and thought i would share because an oversold RSI would put anyone off, but with BTC it can stay there a lot longer than you might think.
PUKA
Komentar:
We got another 8 - 10 % move in the RSI oversold area and we are still making higher lows....
