Quote from: ft73 on November 28, 2017, 03:12:07 PM

Monthly RSI at 94,1% today.

RSI has been higher on monthly only 3 times in BTC history:

* January to February 2013 - 95 to 96,8% max.
* November 2013 - 96,5% max.
* August 2017 - 94,5% max.

Each and very time after the RSI peaking a correction started.
In the very best case it was a 40% correction.

Interesting view ft. The first 2013 spike was in April right? Looking at the weekly RSI the peaks for both spikes in 2013 were in the 90s. Interesting that the second 2013 spike was at the same time of the year and basically one zero short of this one. Of note is the long slow retraction to the $400 mark and the 3 years almost exactly to return to the high of early December 2013.

I noticed you mentioned a while back that you saw 7300 as a ceiling for November. Has the the recent activity changed your view or strengthened it?

Looking at the 3 month channel 7100 looks to be on the cards but that is not adjusted for the last month's change in trajectory. If this is looking bearish medium term $4500 doesn't look out of range based on a 3 month channel from 3 months ago... thoughts?

I take it the rate of new accounts at the exchanges has tapered off now too right?