@cybergrinder 25 January 2023

During one of my streams on the weekend I had the pleasure to chat some trading theories with @mypathtofire and @chaosmagic23 and I was talking about how I'd like to see a particular pattern developing on the chart which I (bluntly) call "stair steps" since... forever. We were also looking at Bitcoin's RSI which was signalling overbought heavily and we were analysing how BTC had recovered two FIB levels. My analysis was that I wanted to see BTC showing support above the 2nd FIB, the 0.382 on MY chart, and from there a sideways move to consolidate to bring indicators out of signalling overbought before we can even consider another "stair step" up. A few days later here we are. Posting this as follow up for the guys tagged above. Of course a retracement is still possible since we're facing a mulit-band MA crossover as we speak but I'd expect the correction to be marginal.