CAUTION: This analysis is using log scale.
BTCUSD is now 12738.60 when I publish this post.
This time I compare ADX and RSI indicators.
When RSI hit 91 on 2017-05-11, ADX line tended to make a hook, indicated that the uptrend would discontinue.
When RSI hit 81 on 2017-08-14, ADX line tended to make a hook, indicated that the uptrend would discontinue.
You may notice the relationships between RSI and the price actions in this currency pair.
I also use the forecast function on this graph.
In August, BTC had a big leap of 61.4% in 13 days. Would this be a sign for us to take some profit near 13000 before it pulls back?
BTCUSD is now 12738.60 when I publish this post.
This time I compare ADX and RSI indicators.
When RSI hit 91 on 2017-05-11, ADX line tended to make a hook, indicated that the uptrend would discontinue.
When RSI hit 81 on 2017-08-14, ADX line tended to make a hook, indicated that the uptrend would discontinue.
You may notice the relationships between RSI and the price actions in this currency pair.
I also use the forecast function on this graph.
In August, BTC had a big leap of 61.4% in 13 days. Would this be a sign for us to take some profit near 13000 before it pulls back?
