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RE: RSI and MACD showing weakness in the face of a price rally...this is rarely good.

in Project HOPE4 years ago

Dear @fijimermaid

Solid read. Topics related to finances are definetly one of my favourite ones :)

I myself don't use RSI and MACD indicators much, however I learned that millions of investors around the world care about TA. So obviously if those millions will come to some conclusion based on MACD, then chance that they will be right is increasing. It's little bit like self-fulfilling prophecy, wouldnt you agree?

If you need some cash over the next 12 months...now is probably the time to cash in some crypto.

I'm a bit confused. Is current dip a good time to change crypto to FIAT ? Wouldn't you expect that current dip will come to an end sooner than a year from now? (mentioned 12 months)?

But it looks like we are going to take a bull market break.

My impression is very different. This bull market is far from being over. We had years to shake off so called "weak hands" and most people who are in crypto space are the ones who have been around for quite sometime. And recent short bull run has been simply TO SHORT. So not that many newbies enteres the market.

It's crutial to rememeber, that so called "market makers" build their wealth by transfering it from all those newbies. Who are easy to be scared and tent to panic-sell. We just don't have much of them yet.

I would recommend checking out google trends for "bitcoin". Once this will reach all time high (Which would last at least for several weeks), then we may expect another heavy crash and perhaps even return of bear market. Until then - I think we're still up for solid upward movement (after few weeks of consolidation).

Have a great weekend buddy,
Cheers, Piotr

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