#Bitcoin weekly RSI is at the same level as it was during the March'20 crash.
Two possibilities:
1) Reversal
2) Crash to test the lower bound of the channel or even lower, as most of the crashes are preceded by oversold readings.
As of now, 2 has a higher probability.
More from Mayank Narula
Here is one more stock displaying similar characteristics: Mayur Uniquoters.
Spot the similarities here in the price action:#AARTIDRUGS
— Mayank Narula (@Mayank_Narula1) October 10, 2020
2013-2015: Monthly RSI goes over 70 and stock goes up 4-5x.
2015-2020: range consolidation
2020: repeat of 2013-15 in few months pic.twitter.com/53L2fNpJoM
#MayurUniq
Coming out of 7 years consolidation.
Weekly and monthly RSI crossing over 70.
Can it do what Aarti Drugs and Tata Elxsi did in last 1 year?
#MayurUniq
Monthly RSI crossed over 70 in Sep'09 and stayed till Sep'11.
Stock did 5x in that time.
More from Bitcoin
#BTC https://t.co/Yd4iZqC42s
I don't know why Crypto YouTubers are so bullish on BTC right from the top \U0001f61b while the charts are saying something else. Won't be surprised to see the entire retracement of the marked rise. #BTC pic.twitter.com/SQJkjAfZme
— Aakash Gangwar (@akashgngwr823) April 30, 2022
This isn't another opinion piece on #Bitcoin , in-fact, it's exactly the opposite. 👇🏼
This thread is a list of resources I have found to be useful and insightful when it comes to understanding the pros and cons of #Bitcoin .
Below, you'll find knowledgeable people 👩🏽💻, articles/essays 📝, podcasts 🎧 and videos 📹 about #Bitcoin . Enjoy!
/2 People 👩🏽💻
These individuals are valuable to listen to, whilst they are bullish, they justify their stance:
@RaoulGMI
@michael_saylor
@DTAPCAP
@APompliano
@VentureCoinist
@AlexSaundersAU
@danheld
@aantonop
@jchervinsky
@real_vijay
@lawmaster
@LynAldenContact
/3 Resources 🏢
A video library of interviews from various Bitcoin enthusiasts. 👇🏼
https://t.co/CJJvHavSOn
A great guide for new investors to Bitcoin. 👇🏼
https://t.co/fOoSfTlWr5
A portal for people to go from zero knowledge to intermediate level.
/4 Tweet threads 🐦
A great thread on rebuttals from common #Bitcoin queries/criticisms. 👇🏼
https://t.co/tPEpFMMPhH
Why companies are starting to put BTC on the balance sheet. 👇🏼
https://t.co/lL71M1A3NF
“A double-spend broke Bitcoin" debunked.
1/ Fear and Bitcoin.
— Dan Held (@danheld) January 10, 2021
Whenever Bitcoin has a bull run, naysayers try to cope with missing the boat by rationalizing why it will fail through \u201cFear, Uncertainty, and Doubt\u201d or what we Bitcoiners have nicknamed \u201cFUD.\u201d
I wanted to take some time to cover some resources I use in my daily $BTC trading. This will be a longer thread, so bear with it you will hopefully find something that will help you also. I will try to keep it concise so if there are any questions please DM me.
11. Portfolio Management & Trade Diary- https://t.co/KAig84dOsk
3Commas gives you the ability to see your full portfolio, mapping your balance and asset breakdown. You have access to all your trade history across all exchange in a single trade diary, saving time extracting taxes
Price needs to let volatility wear off before its next big move. Thinking 30K-40K range for the next 1-2 weeks. Then either 50K straight or after piercing 30K and bouncing back above 30K within 1-2 days.
My $BTC short-term view after long deliberation and some flip flopping is rangebound in 30K-40K until the curve and vols come off a further. Then, 50K. I wouldn't be surprised if 30K is briefly breached but the risk is to the upside. Those calling for 20K missing the big picture.
— Alex (@classicmacro) January 12, 2021
$27500-$27000 is the key area. If price heads back down to 30K, expect 30K to be breached, fall to that area, and bounce back. FAST. All very fast.
What do I do with this information?
Simple.
I'm trading the range against a core position. Buying when price pushes lower, selling when higher. It's like playing the achordeon. There's always air left inside.
Where exactly?
Nowhere.
I don't use limits for that. $BTC is liquid enough to trade at market without issues.
I'm watching PA, volume and rates for buying and euphoria as reflected in rates for reducing.
Decision making is dynamic. Nothing is set in stone. But most likely if price heads back down to 30K 'll be holding off next time. The gameplan is to have ammo to buy the dip (to redeploy). If 30K breaks absolutely no buying until down to 27Ks or back above 30K.
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— Akshay Kadam(A2K) \U0001f47b (@deadcoder0904) November 19, 2018
I never went to a hackathon but this just felt like one even though I was just watching \U0001f440
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