BITSTAMP:BTCUSD   Bitcoin / Dolar
Nice Elliot waves all way long. We are not breaking the trend line but its OK. Main support is at 61.8% fibbo (14.2k USD).
RSI dropping so it is good indicator for increases.
Never depend on RSI
Balas
Voocash ghose12
@ghose12, Of course you can depend on RSI but it is just and one of the indicators. Can't depend on RSI alone but as part of evaluation. Moreover you can rely on RSI for high volume trades, never low which can be easily manipulated.
Balas
ghose12 Voocash
@Voocash, u can use RSI in hogher highs or max in bull markets..In FUD u cant use it becoz this is not forex or stocks this is cryptos..even normal people too trade..they panic sell like shit..so RSI goes to levels lower than 0..means -ve...many people lost due to RSI...crypto shakes easily to outer news ..so RSI cant help..but i dont say dont use it..it is just an indication that whether it is oversold or bought...but the environment decides the price..not traders..sometiems whales
Balas
Voocash ghose12
@ghose12, You are definately new to trading, but I forgive you. RSI never drops below 0 if yes prove it. I do only long interval analysis 4h is the most precise I get. crypto market behaves exactly like forex. it is only more volatile and political decision dependent. Indicators work in here as well.
Balas
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