The daily bitcoin RSI has been slowly creeping up and breaking resistance over the past days and weeks. All of the talk about crypto has completely died off and we are still going sideways. I have talked to @yankee-statman and admit I HAVE NO IDEA WITH CERTAINTY WHAT IS GOING TO HAPPEN HERE.
BUT I am READY TO REACT. The RSI is breaking up, that is a very good sign and shows relative strength. In my years of trading, especially on an intermediate basis the RSI WILL react before the price confirms many times over. It is a true signal. We have this yet again happening here below...
Do I think this is THE BOTTOM? I am not sure and not making that call because confidence levels are still low, however in the intermediate term I beleive crypto is moving higher in the right direction. The risk is now favors the bulls at these levels with stops below. I think you take a chance and long the 6500 here with a 6000 stop instead of waiting around. If it goes through 6800, and nothing really matters until then, then that spike is going to be mighty fast!
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CRYPTO SNUFF
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by heyimsnuffles
I have a good gut feeling we go up from here! Or mabie I'm just hungry but it is starting to look good.
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