WARNING: there is something from many traders who analyze BITCOIN which aren’t telling you the truth and I’m not speaking from those who sincerely analyze BIT but those who analyze to manipulate retail investors.
BITCOIN reads on a 1MO TF in which can be a Bearish Bear trap and if this really is a bear trap crash, BITCOIN needs to push up which indeed STOCHASTIC RSI on a VOLUME chart has qualified with my analysis from a BULL MOMENTUM STANDPOINT.
Stochastic RSI is exactly on the same level measure of 50.10 which was just about in the same measure of 51.65 back on 9/1/2016.
So when the whole HERD thought it’s a BEAR CRASH, there was a FLIP to the upside.
Is this happening again?
It reads to do so.
Go to a 2MO TF, there is tug of war between BEARS and BULLS.
Who shows to winning? Then let’s go to a 3MO TF. Now tell me who’s winning? BULLS
If you’re still in denial then let’s go to a lower timeframe 3WK TF; who’s in a hurry moving downwards? BULLS
go to a 2WK TF; who already making the curve to the upside for a soon to cross over for BULLISH MOMENTUM? BULLS but not until BITCOIN crosses the 24.
Go to a 1WK TF: it’s a clear read it’s a BEAR TRAP because the BULL blue line has tapped the 24 stochastic RSI and will make a bounce back up.
Use STOCHASTIC RSI but you must choose volume chart