Hey legend, just pointing out your RSI is set to close at 30periods. When the indicator was developed by J. Welles Wilder Jr. the standard setup was 14 close hence why the daily price currently sits in "Overbought Territory" above the 70.00 as per my original chart.
Not saying that your wrong in having changed your RSI to 30 close as it could be beneficial to a strategy that you developed yourself BUT I wouldn't be changing it just to suit a narrative. As with the markets, a Spade is a Spade.
Now im not saying that price cannot remain in "Overbought Territory" for a period of time and even trend towards the 80.000-90.00 but you can expect a retrace from this current range as its not sustainable. HINT look for a break in RSI trend and a swing high failure which indicates loss of momentum.
Golden cross inbound and looking for some nice price action over the coming week.
All in all another good day
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
77 | 60705456 | 0.2¢ |
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Price($) | Vol. | No. |
---|---|---|
0.3¢ | 71654154 | 40 |
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No. | Vol. | Price($) |
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92 | 211106960 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 72204154 | 43 |
0.004 | 36964082 | 44 |
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