Bitcoin

Show

Simply

Cosmos

<p><strong>Renowned technical analysis expert Cold Blooded Shiller recently took to Twitter to share a </strong><a href="https://twitter.com/ColdBloodShill/status/1698018908127502465?s=20" target="_blank" rel="nofollow"><strong>comprehensive</strong></a><strong> thread on the concerning state of Bitcoin ($BTC). Known for his incisive insights and educational breakdowns, Shiller warns that Bitcoin’s momentum and trend could be on the verge of a significant shift to the downside.</strong></p> 
<h2 class="wp-block-heading" id="strong-the-alarming-state-of-rsi-and-awesome-oscillator-strong"><strong>The Alarming State of RSI and Awesome Oscillator</strong></h2> 
<p>Cold Blooded Shiller highlights the Relative Strength Index (RSI), a crucial indicator measuring price movement speed and change. For the first time in 2023, the RSI’s midpoint <a href="https://twitter.com/ColdBloodShill/status/1698018922237157450?s=20" target="_blank" rel="nofollow">appears</a> to be in jeopardy.</p> 
<figure class="wp-block-image size-large">
 <img decoding="async" loading="lazy" width="1024" height="581" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-1024x581.png" alt="" class="wp-image-327414" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-1024x581.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-300x170.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-767x435.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-1536x872.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-2048x1162.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-264x150.png 264w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-100x57.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-617x350.png 617w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-35-788x447.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-35.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>This is a critical measure of who controls the market and where the stronger moves are likely to occur. Shiller compares the current RSI and Awesome Oscillator (AO) levels on Bitcoin to those of the Nasdaq ($NQ) back in January 2022, noting a striking similarity.</p> 
<p>The Awesome Oscillator also shows signs of divergence, which has always been in an unusual spot. Shiller explains that the divergence won’t be “played out” until the AO crosses to the opposite side of the midpoint. At present, this divergence has not reached its climax, indicating a potential shift in momentum.</p> 
<p>The famous Twitter analyst then moves on to discuss the market structure of Bitcoin, which he describes as an uptrend hanging by a thread. Market structure provides some of the best defense points, offering excellent risk-reward (RR) ratios for long positions near the last low. However, if these lows break, the price action could move quickly, leading to a sharp decline.</p> 
<p>Shiller provides examples of previous instances when the market structure broke, emphasizing how protected these structures can be until they are lost. Once they are lost, the price action tends to move quickly, often leading to painful outcomes for traders.</p> 
<h2 class="wp-block-heading" id="strong-possible-outcomes-and-educational-insights-strong"><strong>Possible Outcomes and Educational Insights</strong></h2> 
<p>Cold-Blooded Shiller concludes his thread by outlining the most likely scenarios for Bitcoin’s future. According to him, the most probable outcome is a downside impulse move, characterized by a large sell-off candle with no relief.</p> 
<p>The second most likely scenario is a period of choppiness around the current low, allowing indicators to reset and leading to an uncertain future. The least likely outcome is a continuation of the uptrend, which Shiller believes would require a significant change in market forces, possibly news-related.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0">
  <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Trade on US-Banned Exchanges With No KYC 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>Tired of missing hot new listings because your favorite exchange is banned in the US? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>With <a class="thirstylink" rel="nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a> you can finally trade on Kucoin, ByBit and more without registration or KYC! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>Simply connect your wallet to access every coin. No VPN needed.</p> 
    <p>Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.</p> 
    <p>Take your trading to the next level with:</p> 
    <ul> 
     <li>Instant access to banned CEXs <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6ab.png" alt="🚫" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>No KYC required <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f645-200d-2642-fe0f.png" alt="🙅‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>Trade on your terms – no registration required</li> 
     <li>Maintain full custody – tokens stay in your wallet</li> 
     <li>Access liquidity across leading DEXs and CEXs</li> 
     <li>Bridge assets quickly between any blockchain</li> 
    </ul> 
    <p>Escape CEX limits today with <a class="thirstylink" rel="nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div> 
 </div>
</div>  
<p>Shiller adds that the RSI and AO are simple, but effective trend systems on higher time frames (HTF) for educational purposes. When their midpoints are lost or regained, it’s a significant event that traders should pay attention to.</p> 
<p>Cold Blooded Shiller’s analysis paints a concerning picture for Bitcoin, with multiple indicators suggesting that a bearish turn could be imminent. Whether you decide to go long, short, or take a break from the market, Shiller’s insights offer valuable perspectives for navigating these uncertain times.</p> 
<p><em>Join us on <strong><a href="https://twitter.com/intent/follow?screen_name=captainaltcoin" data-type="link" data-id="https://twitter.com/intent/follow?screen_name=captainaltcoin" target="_blank" rel="nofollow">Twitter</a></strong> and <strong><a rel="noreferrer noopener nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noreferrer noopener">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noreferrer noopener">price predictions</a>.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://captainaltcoin.com/bitcoin-on-the-brink-top-analyst-warns-rsi-and-ao-spell-trouble/">Bitcoin on the Brink: Top Analyst Warns RSI and AO Spell Trouble</a> appeared first on <a rel="nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Bitcoin on the Brink: Top Analyst Warns RSI and AO Spell Trouble

Table of Contents

CaptainAltcoin

Other articles published on Sep 3, 2023

Shibarium Hopes Lift Shiba Inu as Whale Transactions Surge Over 300%

Gala Games in Legal Battle Over Alleged Misuse of Cryptocurrency Funds!

Web3 adoption would be impossible without intuitive UX and convenience | Opinion

Web3: Five Key Characteristics of the Decentralized Internet

Bos Ripple Labs Tuding SEC Liar dan di Luar Kendali

FTX Filing Unveils Ex-Alameda Exec’s $2.5M Yacht Purchase

Join our free newsletter for daily crypto updates!