Note, this is not a recommendation of any kind... you should not rely on this paranoia if I have convinced you, you should always do your own assessment.
I am sharing something that I find very curious and perhaps useful in our search for the TOP in BITCOIN.
It's called RSI and it's a very old indicator that many people use...although not in this way...
My observation is the following:
- Put the 14D Chart
- Put the logarithmic scale on the price to better appreciate the tops
- Insert the RSI indicator in that same period
- Observe how the 14-Day RSI has marked each of the BITCOIN TOPS
- Draw a line (slightly declining) trying to join all the RSI tops
- Observe that there is still room for growth to reach the line...I calculate that to identify the TOP of BITCOIN the RSI should be marking 90 in the 14D
Yes, this is another risky indicator...but it has always been right...until now.
For now I have set an alarm in Tradingview on the 14-day RSI indicator when it goes over 90...we'll see.
Enjoy.