Bear flag with hidden bullish divergence?
Updated
You can see we are forming a bear flag, but there are a couple of potentially bullish signs in the indicators.
1) Look at the RSI. You can see BTC is becoming less oversold even though the price continues to descend. A sign of bullish divergence.
2) Bear volume declining while the price is still traveling lower. This is a good sign although a break to the downside will surely bring back the bears.
3) There is also a bullish MACD cross.
These signs are pointing to exhaustion of the current trend in this time frame.
This is just an idea and waiting for confirmation after a break to either side is the best course of action.
1) Look at the RSI. You can see BTC is becoming less oversold even though the price continues to descend. A sign of bullish divergence.
2) Bear volume declining while the price is still traveling lower. This is a good sign although a break to the downside will surely bring back the bears.
3) There is also a bullish MACD cross.
These signs are pointing to exhaustion of the current trend in this time frame.
This is just an idea and waiting for confirmation after a break to either side is the best course of action.
Trade closed: stop reached
lol, poor btc
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