Beware the Hidden Bear - More Downside to Come?
Updated
During this recent drop, while the price creating a lower high, the RSI created a higher high. This is an indication of a continuation of the downtrend so beware buying here. It's already sold off multiple times and simply looks like a retest of former trendline that we fell below.
More about divergences: babypips.com/learn/forex/divergence-cheat-sheet
More about divergences: babypips.com/learn/forex/divergence-cheat-sheet
Comment
Well that sure melted like butter on a hot summer's day. Stay safe. I believe it's going to get rockier for maximum pain.Comment
$4300 next?Comment
Wow, even lower than $4300. We got a bounce but it ain't over yet. Already ANOTHER hidden bearish divergence formed on the 1H chart. More pain to come and likely much deeper this time. Will it bounce back above the 200 weekly MA this time?
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