Recently, There was another dip. I was prepared from the bearish flag pattern but I did not sell any of my position. Currently, on the RSI, it is at an extreme oversold level. This is on the 4hr charts. I've been observing the 4hr chart and the movements are pretty accurate to an extend. It is never a good idea to sell when the RSI is at an oversold level.
It is the mid of the month and usually, the dip is going to end by around the 19th before a new short rally starts. If you check out the chart that I've highlight the red spots where the RSI is usually at an oversold level. It is not a time to sell but to hodl on. The only time to sell is to wait for the RSI to head to an overbought level. RSI usually is pretty accurate. There is this phycological barrier where as humans, when we see something bad that tends to happen, we would panic. This is part of survival instincts that is built into the genetics of a human.
The thing is you never know in realtime how the graph will evolve. So you never know its a dip until a new wave comes
Yea. It's true what u said. The main idea is that usually it is not a good idea to sell the dip from fear but buy it by dollar cost averaging.. thats my opinion..👍 but everyone has their own style.
Yay! 🤗
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