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Bearish-divergence

Bitcoin (BTCUSD): 3 key info. to keep in mindThe 4 hour timeframe of Bitcoin (BTCUSD) is shown in this analysis and commentary is provided below based on the numbers marked on the chart in an ascending order. (1) Bitcoin bullish price channel that arose from a Head and shoulders bottom (inverted Head and shoulders) pattern that confirmed after price close above ~$6,869.60. The implication of the Head and shoulder pattern based on price projection has run its course leaving the current bullish channel in Bitcoin (BTCUSD). Also adding to the current bullish scenario is the break above the long term bearish trendline with price action establishing higher highs and higher lows. (2) ~$7,554.80 and $7,296.60 indicate support region for Bitcoin (BTCUSD) with price reaching the top of the channel at ~$8,500.10. The horizontal support region is well within the bottom of the channel, which increases the chance of a possible sell off that should target the support region as mentioned above. Price reaching and consolidating around support implies higher price that should see Bitcoin move above $8,500. (3) The green line marked on the price chart and on the RSI indicates a bearish divergence which suggests also that the current bullish momentum has run out. It is therefore better to have momentum confirm the resumption of the bullish trend before establishing long (buy) positions.
BITFINEX:BTCUSDLong
by Coin_Analyst
[Red Apple] "Correction Over???" _ BTC/USD _ 18.07.20Flag pattern that I mentioned is broken to upward. Can go higher ???? Then, Let's start the analysis for today's BTC/USD chart. If you are busy, you can just read below briefly '1. Briefing ' '4. Summary and Strategy' and click '+Thumb up, +Follow' :-) 1. Briefing # Sideways Movement # Penetrate 100EMA # Resistance of Neck-Line on Bitflyer market(refer to yesterday briefing) 2. Day 1) Trend Trend line is being supported 2) Candle Spinning Tops -> not importance 3) EMA a. penetrate 100EMA(orange) -> focus on support b. 20EMA(red) and 50EMA(purple) will be crossed soon. 3. 4H 1) Trend Same as Day analysis 2) EMA the distance between candle and 20EMA(red) is closer. there is possibility to retest 20EMA. 3) Pattern Patterns in previous briefing Double pattern : support neck-line and then going to top again -> Can be changed to Triple Top or Rectangle Flag pattern : broken upper side. now upper side should be supported. 4) Indicators a. Hidden Bullish Divergence was found in previous briefing and Bollinger Band also had possibility to go up-side in short term due to 1H frame. Check the result from Purple Arrow on the chart. b. Now, normal Bearish Divergence is shown from RSI , Stochastics and CCI in 1H frame chart c. Candle is touching upper band of Bollinger. it means it can go-down to base line of Bollinger. Using Indicators just for a reference And check empty accumulated volume range in previous briefing 6) Fibonacci Heavy accumulated volume range 0.382 ~ 0.5 4. Strategy and Summary Almost Same as previous briefing. Bullish View : Penetrate 100EMA and upper side of flag pattern but firstly, neck-line in BITFLYER market should be broken. If you are conservative trader, check this line. Bearish View : I expected market correction will be done at least to Fib. 38.2% (about $6800) and heavy resistance is existed upper side. Therefore, should be careful always before penetration of neck-line If you think my idea is helpful for you, Click '+Thumb up, +Follow' :)
BITFINEX:BTCUSD
by Red_Apple
Bearish Divergence + Rising Wedge = Breakdown?Seeing the combo of the rising wedge and the bearish divergence on the 4hr chart and 4hr rsi makes me think we will at least see a small breakdown back to the 4hr 50ma. Hoping we turn it back towards the upside after forming another higher low to allow the bulls tos tay in control. In the short term though probability is high enough for me to switch my idea status to short. Of course as always, I will be prepared for the exact opposite outcome as well with a smart stop buy back a few pips above the top trendline of the pink symmetrical triangle..hoping I can instead buy back in near the 4hr 50ma though. bst of luck in whatever you decide. Thanks for reading! (not financial advice)
BITFINEX:BTCUSDShort
by DrDovetail
4
btc bearish breakdown feom rising wedge/bear pennantbeen warning people most of the afternoon that had their bullish blinders on that this rising wedge would likely break downward as we would probably form one more lower high/lower low combo before completing eve's handle and continuing upward. I had spotted bearish divergence on the 15, 30, 1hr, and 4hr rsis and noticed the 4hr stoch rsi was completely maxed and due for a drop. Still dont have my laptop back so been having to keep posting ideas to a minimum, but I believe this drop could take us as far down as $7350 seeing how that is the exact halfway point between the bottom of eves cup (6400) and the top of the left side of the cup(11700). I'm still a strong believer in us triggering both the double bottom pattern and the cup and handle attached to it so I'm confident we will see a big rebound bounce before we have a chance to go any lower than $7350. I would expect the real bottom of this recent dip to be somewhere between 7350 and 8200 but I'd say any price between 7500 and 8000 is an ideal and safe spot to,buy back in at. Of course these are only my presumptions not financial advice so make your own decisions..best of luck everyone.
BITFINEX:BTCUSDShort
by DrDovetail
1