There is like 1% chance that we go straight 4k to without stopping you out.
Mclobster
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Don't think this is going to happen atm. Maybe in a few weeks. To oversold on almost all indicators atm
FxDollarZz
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@Johnsdad,
All about the risk to reward, with a 4:1, this only has to happen at least 20% of the time to break-even. As long as this happens 40% of the time, it's still massively profitable.
Also indicators don't mean shit, there just a lagging derivative of price. An over-sold indicator just means one thing; price has been going down.
Mclobster
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@FxDollarZz, been trading indicators profitably for 10+ years so that shit is working for me at least.
gl gl
lukemtesta
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@Johnsdad, Oversold doesn't mean oversold. RS is literally price derivative relative to the start of the window. If the BTC price has a variance of 0.5%, +0.5% is going to say the market is oversold, when we know this is not a norm.
Even in the event of 'oversold' or 'overbought', you can't accurately say where the next resistance/support area is for the new trend with RS alone. All you know is there have been MORE gains or MORE losses than usual in the N-sample window...