Bitcoin bulls continue to be demoralized, as the price per coin grinds continuously at lows for what feels like an infinite amount of time.
While such returns aren’t likely a second time, such oversold conditions could yield some significant, unexpected upside.
The Stochastic oscillator is a a range-bound momentum indicator that uses support and resistance levels, created by investment educator George Lane in the 1950s.
The goal of the Stochastic – often called Stoch for short – is to spot when prices close near the extremes of a recent range.
Currently, Bitcoin price on 3-day timeframes is at the lowest point in its entire history.
Bears are in the process of defending a 3-day bull cross, while bulls seek to put in a bottom once and for all.
The two tools differ in that the RSI measures price velocity, while Stoch relies on the percentage of a trading range formula.
During highly volatile conditions, the Stoch can generate false signals.
While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets.
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