How to Read the RSI Indicator: The Market's Lie Detector
What’s RSI All About?
The RSI is a momentum-based oscillator that captures the speed and change of price movements. It operates on a scale of 0 to 100, and if you know how to read it, it’s like having X-ray vision into the market’s moods. The best part? It’s super easy to use — slap it on any chart, any time frame and let it do its thing.
The Numbers
Above 70: Overbought alert! If the RSI shows a reading above 70, the trading instrument may have been partying a little too hard. Anywhere above
Earlier in August i thought also that high 40s would be possible but more i'm leaning towards maybe 50s now for the last shake off at the bottom of my 4TH wave but thats about The way i see it now is push higher 70500-73700.00 to complete orange count wave 3 After that deep ABC structure { 61-74% retrace} to finish the orange 4th wave. Then we should resume our uptrend again. Most expect 90-100s i see most likely 80-86K range as we finish our yellow 3th wave!... Good luck and let's see how it will work out for US#MemeCoinTrending #WhichMemeCoin? #SCRSpotTradingOnBinance #USRetailSalesBoost
In simple terms, the market is currently going up, but it is expected to reach a point (called the "resistance area") where it will face strong opposition. Once it hits this level, the upward movement will likely stop, and the price is expected to reverse direction and start going down.
1. Uptrend. The price is rising, and it is moving toward a specific level where it might face resistance.
2. Resistance Area. This is a price level where the market tends to struggle to go higher because many traders start selling here, believing the price is too high.
3. Reversal After hitting the resistance, the price is likely to stop rising and start falling. This is known as a reversal, which indicates a shift from the previous upward trend to a downward one.
Bitcoin is poised to make a significant move, targeting the $130K mark. Several key indicators point to this target: 1. Fibonacci Extension: The 0.618 Fibonacci extension, measured from wave 1 and wave 3 to wave 4, aligns with $130K. This makes it a crucial technical level. 2. Long-Term Trendline: Bitcoin's current bullish cycle is approaching a dynamic resistance level, further reinforcing $130K as a major target. 3. Elliott Wave Theory: We are currently in the final phase of a 5-wave impulse
Bitcoin recently completed a harmonic pattern near the 66,500 level. The initial price reaction was positive, increasing the likelihood of the beginning of a bearish movement. This harmonic pattern adds more weight to the bearish scenario we are considering. However, from a different perspective, BTO has been making significant upward and downward moves. When we refer to past movements, BTC is currently in a similar area. I am looking for profit-taking opportunities near strong zones where the price has previously reacted #MemeCoinTrending #TeslaTransferBTC #BTCSoarsTo68K #BinanceLabsInvestsLombard #BNBRisesTo600 $BTC
If we look at the chart, we can see how the price traded within the resistance area, but then reversed and fell to the support level, breaking through the 64,000 level. After this, the price started to rise, but failed, and for a short time tell below the support level, which was in line with the support area, and all the way down to the trend line. Next, BTC turned around and started to rise, and later recovered to the 57,500 level, broke through, and then continued to rise. But then the trendline was revised in line with support and then rebounded to resistance. The price sometimes trades around this level, then breaks through it, after which it even rises above the resistance area. But not long ago, Bitcoin reversed course and fell to the trend line, matching the 64,000 level, and recently fell below the trend line. Now, I expect BTCUSDT to retest the trend line and then continue down, so l set my target below 60K. The final target is expected to fall to 53K. $BTC #WeAreAllSatoshi #moonbix #BinanceLaunchpoolSCR #U.S.UnemploymentNewLow #HBODocumentarySatoshiRevealed
Bitcoin has been trading in a very tight range for the past week, showing little volatility and movement. This period of consolidation typically suggests that the market is indecisive, with neither bulls nor bears managing to take control. However, today there seems to be a bit more momentum, ano it looks like Bitcoin might be preparing to break out of this range, potentially breaching the upper boundary. If the price manages to break through this resistance, we could see an acceleration towards higher levels, with a potential target around 68k. #WeAreAllSatoshi #HBODocumentarySatoshiRevealed #U.S.UnemploymentNewLow #SECAppealRipple #BTCUptober $BTC $ETH
Bitcoin has started a downward correction, after which it began to gain bullish momentum. I expect to hover around the 63K support level and then start to have two possible upside positions: Immediate rebound Target :70k If the upside breaks above 67K, it could trigger a strong rally towards the 70K area, continuing the bullish momentum after the breakout. A pullback before a rally Target: Adjust to 57K, then rebound to 70K Trend: If Bitcoin fails to break through 67K, it may continue to fall ba
Bitcoin recently completed a harmonic pattern near the 66,500 level. The initial price reaction was positive, increasing the likelihood of the beginning of a bearish movement. This harmonic pattern adds more weight to the bearish scenario we are considering. However, from a different perspective, BTC has been making significant upward and downward moves. When we refer to past movements, BTC is currently in a similar area. I am looking for profit-taking opportunities near strong zones where the price has previously reacted, specifically around 59,800; 55700; and 52,800. Sell now: TP59800.04 ТР55710.29 ТР52807.42 SL66500 $BTC
Here are my views on $BTC which may or may not work, but l'm pessimistic It appears as though Bitcoin shall not break through 100k, but will instead front-run it at the 80k region. This is a deviation from my previous estimate, and is due to new data in the last 6 months. Looking at the economic situation, we have finally started getting rate-cuts. This was one of the criteria for confirming that we are about to enter a recession-induced bear market in the near future. High point rate-cuts by the Fed are a sign of policy panic, and reaction to a failing economy. The effects of these policy changes take many months to trickle down, therefore 2025 is looking like a losing position with reinforcement far away. Only when the rates finally get below 1%, do I expect to see liquidity injections into the market. $BTC #BinanceLaunchpoolHMSTR #EIGENonBinance #BTCPredictedNewATH #BTCReboundsAfterFOMC #CATIonBinance
Bitcoin Bullish Breakout: Is a Surge to $70K on the Horizon?
BTC FINALLY BROKE THE RESISTANCE OF 65k, so now it sets its target at 69k. As always, the path is not usually direct and at this point, with the RSI showing signs of exhaustion, it is possible that BTC will look for the 64k corresponding to a 0.618% FIBO correction and which coincides with the base of the dynamic support of the current bullish channel. On the other hand, it could also be supported by the 65k which would now stop being resistance and become support.
BTCUSDT 1H RSI 85%, correction is needed to gain new momentum
BTC FINALLY BROKE THE RESISTANCE OF 65k, so now it sets its target at 69k. As always, the path is not usually direct and at this point, with the RSI showing signs of exhaustion, it is possible that BTC will look for the 64k corresponding to a 0.618% FIBO correction and which coincides with the base of the dynamic support of the current bullish channel. On the other hand, it could also be supported by the 65k which would now stop being resistance and become support.
It is a matter of establishing clear patterns to develop an appropriate strategy.
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Check this we already predict market will be crash $HMSTR
LIVE
Mujtaba Shah
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Bajista
$HMSTR is a meme coin. Please sale your coin and save your money $HMSTR can drop 50% in upcoming hours. It’s not a financial advice #BinanceLaunchpoolHMSTR $HMSTR
You can check my previous post I already predict hamster can drop 50% $HMSTR And save your money. And what do you think about hamster ? #HMSTRonBinance #BinanceLaunchpoolHMSTR $HMSTR
Dear followers and friends, I present to you my BTCUSD analysis form your information and decision on trading ... Put eyes and place trade once it form a strong reversal candles like shooting star or engulfing candle #HMSTRonBinance #BinanceLaunchpoolHMSTR #SpotGoldATH $BTC
With the pre-sale price around $0.1, here is the Hamster Kombat price prediction after the launch. The markets have witnessed numerous airdrops in history that became popular in a short while. Most of the tokens witnessed a steep plunge after the launch, as the price of the token usually spikes at the launch. A similar pattern has been witnessed with the most popular airdrop, UNI, followed by others like ARB, BLUR, etc. and many more. Therefore, the HMSTR token is also expected to witness a similar fate and experience massive volatility. The official launch is expected to elevate the levels back to their highs or may even push them above $1 in case of an extended bullish action. However, the possibility of the price sustaining above the gains remains extremely low.
Therefore, the HMSTR coin price may witness a similar price action seen with the other sir-dropped tokens. However, the markets are gearing up to enter the final quarter, which has been historically bullish. Therefore, the Hamster Kombat coin price is expected to initiate a strong rebound and mark greater highs. Presently, all eyes are on the official launch and the upcoming monthly close. $HMSTR #HMSTRonBinance #BinanceLaunchpoolHMSTR #BTCReboundsAfterFOMC #SpotGoldATH #HMSTRonBinance
$HMSTR is a meme coin. Please sale your coin and save your money $HMSTR can drop 50% in upcoming hours. It’s not a financial advice #BinanceLaunchpoolHMSTR $HMSTR