20190308-Jsnip4-All Seeing Indicator Update on 3/7/19


Jsnip4 (All Seeing Indicator Update on 3/7/19):


It has jumped several points and it updated 3 times in the last 12 hours or so. From that Saturday a couple weeks back it was in extreme overbought territory. Then the crypto market dumped Sunday and Monday. Then it dropped down quite a bit to the in between level (not overbought and not oversold). Then it moved half a point then it moved down several points several days later when we had the 5-6% drop the other day, then it basically sat right around that level. Then it creeped up a little bit and we got that small rally we had a few days ago. But it was still in the middle of not overbought and not oversold. So around 7pm last night I checked it and it updated again. It jumped 5 points higher. At that point it was getting just slightly overbought. Not enough to get my attention. Woke up this morning and looked at it. At 11pm last night it updated again. Jumped a noticeable 7 points. It updated again this morning. Jumped another 6 points. All these increases are towards the overbought territory.


As of RIGHT NOW we are not in extreme overbought but my goodness we are getting close and looking at the last 2 years of data, the market has dropped from this level a few days. Since that previous extreme overbought indicator happened on that Saturday when I made the urgent post over here the market did the 15-20% dump and for all intents and purposes, it has gone sideways. Yes it dumped 5-6% and then climbed 5-6% recently so it was back where it was on the initial 15-20% dump and as I've stated numerous times now, when the market was that overbought, it didn't just do a 15-20% drop. It dumped nearly 50%. So the fact that we are almost back to those extreme overbought levels, does that mean part 2 of the large drop we are expecting is about to take place?


The interesting thing is that while the indicator made some major moves upward in the last 12 hours, the crypto market did not follow it up with any kind of noticeable increase in price.


Based on past data analysis I would make an educated guess we are about to go down unless some kind of major thing/announcement/deal/news comes and drives the entire market up out of nowhere. This indicator is technically in the extreme overbought zone as of this morning but it is only barely into that zone but even if it was not barely in the extreme zone, it would be high enough that I would actually consider getting out of the market if I were in the market and wait to see if a dump happened. It is that high to where I would be out here posting that I think a dump is incoming even if this was my first time looking at the indicator tool.


Will the All Seeing Indicator prevail again? Stay tuned friends. I've been out of the market ever since that fateful Saturday waiting for what I thought would be more downside movement and this indicator is one again telling us that should in fact happen and quite soon.


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