Monthly RSI still with Margin...HODL!!!!!!

in HODL6 months ago

25 Days ago I wrote a post about the RSI-Monthly condition that has traditionally preceded or anticipated the End of the BULL Market and so, the start of the "painful BEAR" Market.
As I observed, the maximum Monthly RSI values reached in the top of, at least, the two last BULL MARKETS was of 96 as you can see in the monthly chart below.

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From that chart we can also see that, actually there were two times on which RSI touched that "96-OVER-BOUGHT Condition" in both Bull cycles:

On April-2013 , corresponding to the completion of its WAVE 3 and reaching 260 USD as a top price and then on November-2013 with a top of 1197 USD for WAVE 5 (+344% from previous top):

image.png

The story repeated again on August-2017, top at 5138 USD and a few months after,by the end of December 2017, the top of WAVE 5 arrived, reaching 20000 USD (+276% from the previous top)

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So, I am taking this 96 - OVER-BOUGHT condition almost as a rule here and, you know what?
BTC has not touched even 84... It may happen that neither the 3 WAVE of the Bull Cycle would be even finished yet, can you imagine?

From the past we should extract the following:

  • 96 MONTHLY RSI is perhaps our SELLING condition, if we want to sell, of course... I would choose anything from 93 as an "EMERGENCY SIGNAL"
  • This condition repeats twice in a Bull Cycle
  • The difference in time between both repetitions of this condition varies from 4 to 7 months... I don't know what to think here but my guts tell me that perhaps this time, the difference between both repetitions would be shorter.
  • BTC does not reached its top on this BULL Cycle.
  • Important: plan to take profits on the first repetition and invest them again once WAVE 4 will be finished.

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.


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Wave three should come in summer the way I see it. This post should be featured by crypto outlets so the dumb money won't FUD anymore. The market has barely started to move what are people talking about... I really don't get them. Some have waited three-four years just to fall right before the big show.

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Yep, that's how I also see it but, ok, let's see if this time history rhymes

How much is 93?

!BEER

@tipu curate