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Unsure about buying the dip? This key trading indicator makes it easier

When an asset enters a bear phase and the headlines are negative, analysts project further downside, and the sentiment shifts from optimism to pure gloom and doom. This results in panic gripped traders dumping their positions near the bottom of the downtrend instead of buying.

How can traders go against the herd and build the courage to buy in a bear market? It is not easy because if they purchase too early, the position may quickly turn into a loss. However, if they wait for too long, they may miss the early part of the rally.

Although pulling the trigger during a bear phase is difficult, the relative strength index (RSI) indicator can identify market bottoms and favorable risk to reward scenarios.

Let’s review a few examples of when to buy in a bear market.

Look for extremely oversold levels on the RSI

BTC/USDT daily chart. Source: TradingView

Bitcoin (BTC) topped out close to $ 20,000 in December 2017 and started a long gut-wrenching bear market that bottomed out near $ 3,300 in December 2018. During this period, the RSI entered the oversold territory (a reading below 30) on five occasions (marked as ellipses on the chart).

In the first four instances, the RSI dipped close to or just below the 30 level but during the fifth time, the RSI dropped to 10.50. This is a sign of capitulation where traders who had been buying pre-empting a bottom or had held their positions in the bear market succumbed to fear and purged their holdings.

Usually, long bear markets end after prolonged periods of fear-based selling. Smart traders wait for these opportunities and buy when the markets are deeply oversold, like when the RSI below 20.

BTC/USDT daily chart. Source: TradingView

Fast forward to 2019 and 2020 when the RSI dipped close to 20 on two occasions and dropped to 15.04 on March 12, 2020.

The first instance when the pair dropped to 19.60 on Sep. 26, 2019, turned out to be a losing trade because the price made a new local low weeks later on Oct. 23, 2019. This shows that traders should be ready to close their positions when the stops hit because if they don’t do that, the losses may keep growing.

On Nov. 24, 2019, the RSI dropped to 22.32, just above the 20 level. For traders who keep a very tight stop, this would have also turned out to be a losing trade with the drop on Dec. 18, 2019. However, these were all small losses, which would not make a dent to the portfolio unless traders were using heavy leverage.

The RSI plunged to 15.04 on March 12, 2020, and traders who were brave enough to buy after this drop would have made outsized gains had they held onto their positions during the bull phase, which topped out at $ 64,854 on April 14, 2021. This shows how after two losing purchases, traders eventually hit the jackpot using the RSI signal.

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Author: Cointelegraph By Rakesh Upadhyay
This post originally appeared on Cointelegraph.com News

Bowel cancer symptoms: 'Increased looseness' is a highly predictive indicator – study

Bowel cancer, as the name suggests, begins in the large bowel – a part of the digestive system that includes the colon and rectum. Due to the cancer’s location, it often interferes with bowel habits, although the symptoms can be hard to spot. Research published in the journal Family Practice sought to identify the most common indicators of bowel cancer.
For example:
  • Blood in the poo when associated with pain or soreness is more often caused by piles (haemorrhoids)
  • A change in bowel habit or abdominal pain is usually caused by something you’ve eaten
  • A change in bowel habit to going less often, with harder poo, is not usually caused by any serious condition – it may be worth trying laxatives before seeing a GP.

“These symptoms should be taken more seriously as you get older and when they persist despite simple treatments,” adds the NHS.

Although, it advises people should see a GP If they have any of the symptoms of bowel cancer for three weeks or more.

How to reduce your risk

The exact cause of bowel cancer is not known, but there are a number of things that can increase your risk.

Your risk of developing bowel (colon and rectal) cancer depends on many things including age, genetics and lifestyle factors.

Having one or more risk factors doesn’t mean that you will definitely get bowel cancer, however.

Many studies have shown that eating lots of red and processed meat increases the risk of bowel cancer.

According to Cancer Research UK, it is estimated that around 13 out of 100 bowel cancer cases (around 13 percent) in the UK are linked to eating these meats.

Processed meat is any meat that has been treated to preserve it and/or add flavour – for example, bacon, salami, sausages, canned meat, or chicken nuggets.

Other risk factors include:

  • Being overweight and obese
  • Physical activity
  • Smoking tobacco
  • Alcohol
  • Age
  • Family history
  • Ulcerative colitis and Crohn’s disease
  • Previous cancer
  • Medical conditions
  • Benign polyps in the bowel
  • Radiation
  • Infections.

How is it treated?

Your treatment depends on the stage and whether you have colon or rectal cancer, notes Cancer Research UK.

“The main treatments are chemotherapy, surgery, radiotherapy and chemoradiotherapy,” adds the charity.

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