Bitfinex:BTCUSD currently shows multiple Divergences on the 2hour Chart:
a few hours ago, ...
These Divergences indicate that a Trend Reversal might happen soon.
I assume that Price will start to rise - at least to the level of the weekly Pivot-Point at 8306.
a few hours ago, ...
- Momentum was rising while Price was falling
- the Commodity Channel Index (CCI) was rising while Price was falling
These Divergences indicate that a Trend Reversal might happen soon.
I assume that Price will start to rise - at least to the level of the weekly Pivot-Point at 8306.
Note
Although there's still a red candle on the 2hour chart, there's a bullish divergence of Price vs CCI on the 1hour chart: Note
Looking at the Dailies there was a strong bullish Divergence at the End the of September - and RSI was in the oversold area but is now rising again. Trade closed: target reached
Target was hit finally!
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⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
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⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.