After a crash I always look for the second or third touch of bull-divergence on RSI.
Right now we have 2-touches on the one hour.
two small touches on 4-hour.
This is enough for a scalp long. Dont expect this bottom to last or hold but its enough to form a temporary bottom.
50% account long here. Stops a few hundred $ below.
Right now we have 2-touches on the one hour.
two small touches on 4-hour.
This is enough for a scalp long. Dont expect this bottom to last or hold but its enough to form a temporary bottom.
50% account long here. Stops a few hundred $ below.
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Never long until you can 'hear the screams'. The volume shows capitulation, occurred twice in the 7300-7450 range. Once everyone has sold, supply is exhausted and prices can rise (or attempt to)
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Boom. Fomo inc. Hammer soon.
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If you scalped this, this is a good take profit pointreload on the next divergence touch.
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Watch out for bearish underpants pattern Which I'm told by my friend @sandipan.mch is Wykcoff redistribution, not pants.
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Sinuosity has pointed out in private message the third underpants has lots of volume and looks different to the rest. I agree ^_^
It also has significant 4hr divergence on RSI
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Third touch of four hour Rsi bullish divergence now occurring Shorts are piling up finally. They always get bearish near the bottom
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Chart analysis continued over here:
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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.