RSI for Bitcoin and for most of the major alts have actually been at very low levels since even before mid 2018 as I recall, and kept signallig that we had entered oversold territory. But we all know what happened, eventually prices just kept getting lower and lower, and all the trends that were called out were proven wrong.
How do you avoid highly volatile crypto when the most stable like Bitcoin still can move 10% in a day?
That's an interesting point you brought up. I mentioned, "I will be researching different methods to account for risk to hopefully avoid highly volatile cryptocurrencies." As of right now, I'm sure the signals are vulnerable to high volatility. As you stated, technical indicators for even the most stable coin like Bitcoin were misleading. Accounting for this volatility will be no small feat, and even then, these technical indicators could be wrong as technical analysis is never 100 percent. If you have any ideas, feel free to share.
Thanks for the response! That's really the problem with crypto, isn't it? Remember the 6 to 8 weeks of stability we thought was happening when Bitcoin was "forever" in the 6k USD range? I think the majority of people saw this as consolidation, and were proud that 6k held as a floor. Yet here we are, BTC lost over 50% and even 4k is a solid barrier.
I don't have any ideas to be perfectly honest, I do look at TA a lot but for the sake of curiosity. Don't you get frustrated by all the "wrong" signals? Maybe it's time to ditch TA old ideas and look for new ones?