- MACD is at historic max level but with no signs of retraction. Crossed up and continues heading north.
- The RSI its oversold but has room to go more up and consolidate for a few days in that area as did from
7th to 16th of October where you can see how it was fully oversold but held there and price was driven up a 25%.
- The volume also is constantly increasing signing yesterday the second biggest daily candle in the last 5 months.
- Personally I have the feeling that there is just a small percentage of people trading BTC. Most of the people is just
holding it, using it as reserve of value. This fact gives it a strong support and with the time will make it more
resilient to heavy price corrections.
- The RSI its oversold but has room to go more up and consolidate for a few days in that area as did from
7th to 16th of October where you can see how it was fully oversold but held there and price was driven up a 25%.
- The volume also is constantly increasing signing yesterday the second biggest daily candle in the last 5 months.
- Personally I have the feeling that there is just a small percentage of people trading BTC. Most of the people is just
holding it, using it as reserve of value. This fact gives it a strong support and with the time will make it more
resilient to heavy price corrections.
Commento:
Read overbought where I typed oversold :)
Crypto Rand