BTC/USDT Daily RSI Technical Analysis - Two Key Trend Lines to Bring Us Back to 17K

in bitcoin •  6 months ago

There are a variety of ways to confirm the bull trend which will take us back up to 17k ish levels and I just discovered one interesting and very promising one analysing two key trend lines on the Daily Bitcoin RSI.

Note from the picture below that the trend I'm about to describe has happened no less than 5 times in a consecutive manner over the past few months

Screen Shot 2018-03-03 at 08.45.34.png

Each of those 5 bull trends were confirmed when

  1. We broke out of the 57.6 resistance trend line
  2. Came back down to test and bounce off of the 53.6 trend line (or extremely close to it)

I as an aggressive trader will looking very closely at that 53.6 line and will likely enter into a position as soon as there is decent indication that we are in the process of bouncing off of it.

DISCLAIMER:

I'm not financial advisor and this is not financial advice. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish. I'm not responsible for any losses you may incur.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

You do amazing research. I have started following you.
I have a meme place can you please take some time to see my posts too.
I am new to steemit need some guidance. Thank you.

Headed to 13k in a hurry!!

Congratulations @blockchainttmft! You have received a personal award!

1 Year on Steemit
Click on the badge to view your Board of Honor.

Do not miss the last post from @steemitboard!


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!