Local top reached OCEAN/BTC

2019년 12월 18일

Local top reached on OCEAN/BTC pair.

Reasons:
1) RSI resistance hit, same as previous local tops
2) Bearish divergence at RSI 70, same as previous local tops
3) CMF crossing zero line

2019년 12월 20일

노트

Rising wedge seems to have been validated, looks like a retest now.

2019년 12월 20일

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2019년 12월 21일

노트

potential re-entry target, based on traditional rules of rising wedge:

2019년 12월 21일

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note the RSI breakdown highlighted in RED:

2019년 12월 22일

노트

support holding for now (dashed red line) but I won't start "looking for longs" until this lower blue RSI trend line is touched and I start to see bullish patterns develop.

What we're seeing now is a backtest, essentially investors/speculators giving short sellers yet another opportunity to exit their positions closer to the top, then the correction continues.

I expect the red dotted line to be broken, even though it's holding for now.

2019년 12월 27일

노트

I'll start looking for signs of a bottom when RSI is in the zone I outlined in red. Note the highlighted bounces in RSI/price (highlighted in blue), indicating we may consolidate/bounce. However these zones never signal a bottom. The zones outlined in red (on RSI and price) are where the bottom occurs.

I like ~350 and ~400 for potential bottoms, we'll have to see where price is when RSI is "in the zone."

2019년 12월 30일

노트

Looking like a potential bottom, let's wait for the next low to be printed and I'll make a final call when that happens. bounced right in the zones!

2019년 12월 30일

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