We like to complicate things with EW, FIB, fractals and more complicated approaches with insane trend lines looking at every possible time frame. At the end of the day the best analysis is the clean and simple.
I don't really need to go on and explain whats happening here as it explains itself.
Let's just say RSI won identifying the bearish divergence in the run up in December. This can be confirmed if you also looked at MACD and DMI indicators for support.
The fuschia overhead resistance correspond to near the 200EMA and 20 EMA just to give some perspective how far away we are in this recovery.
Why am I bothering looking at the past? Because this entire process is a learning experience and a way to fine tune your indicators and methods.
I love me some RSI with a side of MACD and DMI please!
#bitcoinbobby
I don't really need to go on and explain whats happening here as it explains itself.
Let's just say RSI won identifying the bearish divergence in the run up in December. This can be confirmed if you also looked at MACD and DMI indicators for support.
The fuschia overhead resistance correspond to near the 200EMA and 20 EMA just to give some perspective how far away we are in this recovery.
Why am I bothering looking at the past? Because this entire process is a learning experience and a way to fine tune your indicators and methods.
I love me some RSI with a side of MACD and DMI please!
#bitcoinbobby