BTC/USD - Bearish Divergence *Updated*
Updated
My apologies for the sub-par chart I shared earlier, this one is much more clear. Keeping things very simple, the Stoch RSI is printing higher-highs but the price is printing lower-highs which is a clear bearish indicator. Currently, the 200 MA on the 4 hr chart is crossing $9,500 so BTC should find some significant support around there or $9,700 if it even drops that far at all.
I promise I'll post more optimistic ideas once I'm confident we are out of this correction. Please hit "thumbs up" if you found any value in this analysis!
I promise I'll post more optimistic ideas once I'm confident we are out of this correction. Please hit "thumbs up" if you found any value in this analysis!
Note
The 1 hr chart shows the Stoch RSI hitting lower-lows and the price hitting higher-lows which further supports this analysis.
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