arepo, great stuff, always consistent and interesting, as a go player myself with a bg in physics getting into these market metrics I really appreciate it. I'll send you some tips when I can dude.
At the moment the bear case seems stronger to me, the Bollinger Width on the same scale is nose diving and I think a new ATH in the next few days is a stretch, so down. StochRSI is very cool as the second derivative of price but because it multi dips the thresholds so much I wouldn't take it's current state as a bullish signal yet. I'd also hazard a guess that absolute support has risen from 600 to 700 in the last week.
Cheers
At the moment the bear case seems stronger to me, the Bollinger Width on the same scale is nose diving and I think a new ATH in the next few days is a stretch, so down. StochRSI is very cool as the second derivative of price but because it multi dips the thresholds so much I wouldn't take it's current state as a bullish signal yet. I'd also hazard a guess that absolute support has risen from 600 to 700 in the last week.
Cheers
thanks for the feedback!
go + physics seems like our interests overlap significantly
anyway, just a point of clarification, a new ATH after a significant period of consolidation is still on the books. this time the bubble was different. sensible double-top instead of a cusp top, the sell-offs were shallower, and the main bulltrap was higher in relation to the lowest support levels. i'm planning on posting a full diagramming after the pattern is over; i'm using the comparisons with the April bubble and many others as part of my resources right now, and try not to share too too much with the forums -- it causes complications
i see what you mean about the stochastic RSI, though, as one interpretation might be that recently visiting the oversold zone after a longer period of being overbought is actually bearish. we shall see
update!
we are breaking out downwards as i type this. however, we're still being held up by the moving support of the uptrend, i.e. breaking into a larger triangle. these consolidation patterns have a tendency to do just that, breaking out and discovering previously invisible supports and resistances within the consolidation channel. of course, we'll need to break through this support, as well, to see a real reversal.
--arepo