The chart explains an effective strategy for anticipating BTCUSDT tether swings.
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Explanation: This RSI divergence strategy for BTC works best on 5 minute and 1hr to 3hr charts to predict day to week trends with A) enough space in between the divergent peaks/troughs and B) a convincing peak or trough both of which are outside of 40 or 70. Note the false signal before the real signal on the last reversal when we got an RSI peak under 40 which appeared to reverse but then the second dip did not fall under 40. That may have turned into a full reversal but in such a situation we would want to be careful and if confirmation doesn't come, or the price reverses below the flag area, we'd want to sell and try again.
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Peaks under 30 RSI* is actually how i have it set up.
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Update : showing some strength 15 minutes, am holding
Update : showing some strength 15 minutes, am holding
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Current situation with notes. Previous trend line appears to be holding as support.
Current situation with notes. Previous trend line appears to be holding as support.
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Support broke overnight. We are in the 2nd bounce area.
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Bounced off of 2nd bounce area and showing some strength.
