Everyone trying to find the top rn, putting daily charts or weekly
But the weekly RSI is telling a different story
Whenever we're in overbought territory, we're actually fckin bullish for weeks to come
It's only when the price remains in toppish range, and the RSI makes lower highs beneath the 70 level, golden line over the blue
Again, this takes weeks to develop - my guess is around March to April - then we'll talk about the bearish scenario.
Everytime we reach overbought level (>70) on RSI, we never have just one leg up, there's always at least a second one
Cannot predict how many, but another leg up can send BTC to +50-70% higher than last top
Problem comes later, when RSI cannot breach >70
4th chapter: technical analysis
Technical analysis is like horoscopes for nerds. Buy, hodl, it's that simple.
Yes, you're right, I totally agree with you.
But these technical analisys helped me a lot to buy Bitcoin cheaper :)
My first bag was bought in october 2021 ($63K)...after the market crashed I decided to learn some (not much) technical analisys, and instead of DCA I accumulated just USDT (cash flow from my salary, etc), and I bought my next bag of BTC in december 2022 (between $16-17k).
So...for me it's working well to wait instead to DCA...
But we are different, and this thing is the best thing in the word!