All the hopeful bulls are going to have to wait.

Felt compelled to write this because a lot of ideas are claiming we've bottomed out and the bulls are back. False... at least the part about bulls. The bears are still in control and have been setting bull traps for the last few weeks and today is no different. Take a close look at the RSI . Control changes hands when the RSI touches the 70 near ATHs or the 30 near ATLs . Since the bears took control, there have been dips below the 30 but no touches and now that it appears we're close to the bottom, the RSI needs to touch 30 before the bulls take back control. In short, I expect at least another retest of $7,200 or $6,000 with an RSI touching the 30 without crossing it before the bulls have control.
good read thank you! Where can I find information about RSI interpratation?
Regera BatterT
@BatterT, there isn't much because it's considered one of the easier indicators to read. That said, reviewing it over the longer term is quite helpful when trying to identify changes in the trend. Whenever conditions cross outside the 70 or 30, it shows euphoria buying or panic selling... neither of which is an accurate representation of the bulls or bears exchanging control. When it nears the 70/30 then slowly and steadily breaks through (or reverses at) resistance levels (i.e. the 55 on my chart), it shows the bulls'/bears' control of the market. That's why I'm not sold on the bulls having control of this market YET. I believe it's likely we'll see a change in the coming weeks but for now I'm quite confident that there is going to be another retest before the bulls take over.
BatterT Regera
@Regera, I appreciate your reply, thx.
Regera BatterT
@BatterT, My pleasure, best wishes for all your trades.
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
HE עברית
首页 股票筛选器 外汇筛选器 加密货币筛选器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
概述 个人资料设置 账号和账单 寻求帮助 已发表观点 粉丝 正在关注 私人消息 聊天 退出