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Bearishdivergence

BTC May 11, again?On May 11 we were in almost the same spot as now, then we had multiple bearish divergences as we have now. And now we got RSI and SRSI at a higher angle. Macd looks like it will print death cross also. I AM NOT SAYING THAT WE MUST GO DOWN. Just want to point at this situation, as a possible scenario. I personally wouldn't like for this to happen, but it's better to have this option in your cards also. Just heads up guys!!! I would like to hear your opinions guys... Good luck traders
by PhilosophersStone
8
BTCUSD - H4 - MBB = LEADING INDICATOR !The Mid Bollinger Band (MBB) worked perfectly well so far in rejecting all downside breakout attempts !!! Therefore, as long as this support level (currently @ 54'595) hold, it should be seen as a supportive signal, calling for this ongoing upside move. Watch also technical indicators (such as RSI) which has already triggered, so far, only a minor BEARISH DIVERGENCE; nevertheless, a failure to switch from a divergence mode to a convergence mode would be an additional warning signal, which could trigger a renewal selling pressure calling for lower level. UPSIDE : Watch former intraday high @ 56'168 (potential double top !), ahead of the ongoing uptrend channel projection levels. DOWNSIDE : Monitor closely 54'595 as the first significant support level ahead of 53'298 (KS) and also, currently the bottom support line of the ongoing H4 uptrend channel
BITSTAMP:BTCUSD
by Ironman8848
BTC QUICK UPDATE!Hello everyone, if you like the idea, do not forget to support with a like and follow. Here is a quick update on BTC. BTC currently trading above $49k. It made a decent upside move from the starting of Uptober (October) month. Now BTC facing a big psychological resistance which is at $50k. Le's see what the chart says. According to the chart, I expect some retracement from here. Why am I expecting a retracement? Because the RSI shows a bearish divergence and also volume is decreasing. So I expect BTC price may come to $47,500 or even $45k and a quick bounce from there is highly likely. Also according to the fear and greed index, we are in the greed zone now. So "be fearful when everyone is greedy and be greedy when everyone is fearful." But if we manage to break and close above the $50k then my next short-term target is $53k. So keep a close eye on the $50k level and avoid high leverage trading as of now. Do appreciate with your likes and support. It motivates me to work more. This isn't financial advice. DYOR before investing. Thank you!
Short
by CoreCrypto1
6
NDX/SPY Continues to look like a bull trapI have been watching this formation develop for what feels like a year now and it is slowly grinding its way through and it seems we are finally on the verge of having the performance begin Generally speaking, since the dotcom crash NDX has gone up faster than SPY and so that has made it the bet for people to "just by the index" to make their gains. But now with this long term pattern forming it is signaling that NDX isn't the main bet to make. There are two main propositions from this formation: either SPY will start to outperform NDX to the upside or given the situation of the broader markets, NDX is going to lead the charge downward in a recession. Given how much negativity we see in the system combined with the topping pattern I think it will be the downside. If you compare the NDX/SPY chart to NDX you can see that these top formations on the pair do predict a dip on NDX. So far these dips on NDX have been great buying opportunities because they have been higher lows. Eventually NDX is going to print a lower low. After that lower low we are at risk for a lower high and that sets the bearish trend. Imbedded in the fib extension on the main chart is the notion that we are facing an ABC correction on NDX/SPY and we will see a C wave that is 1.618 or greater than the length of Wave A. If we look at the chart the last bit of serious price action has been between the 2.618 and 3 extension levels and so over the course of the next leg down I will be watching for NDX/SPY to chop its way down there for another consolidation. I am not sure most people are emotionally prepared for the long term targets. I have been watching for it and I am not sure I am emotionally prepared for this. People that buy the index to hold, whether it be retirement accounts or something else might not get to break even for over a decade. Last time NDX/SPY had a bull trap NDX went down 80% from here. Here is the annoying thing, both NDX and the pair had a bull trap. Right now NDX has just got done setting an all time high. If both the NDX/SPY pair and NDX were both looking at bull traps I think more people would take this seriously. Lots of questions remain unanswered if the broad conclusion of this post is correct. Will any bear market still be multi-year? What will happen to the money supply generally? Interest rates? All hard to predict if anything resembling the scope of what I think will happen will happen.
CME_MINI:NQ1!Short
by This_Guhy
4
ALICE has been good to us...We made 60% profit from the last ALICE chart, the link to the idea is below. Now we got a bear div on RSI unless the price goes more up and pulls RSI up with it, MACD also has a bear div on 4hr chart. Possible BTC move down could only help this div to play out. Reached significant zone at 15,37 that was a big support and last time rejection point, so until break up, we could expect it will be big resistance. Possible good long entry if ALICE breaks up from it and does a retest. Good luck traders
by PhilosophersStone
Is Bitcoin trading in a Giant Descending Triangle?On the RSI there appears to be a noticeable divergence, there's a series of higher lows forming an ascending triangle. The price is displaying a series of lower highs forming a descending triangle. A bullish divergence or bearish divergence? A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again—often a bullish divergence marks the end of a downtrend. Bearish divergences signify potential downtrends when prices rally to a new high while the oscillator refuses to reach a new peak. In this situation, bulls are losing their grip on the market, prices are rising only as a result of inertia, and the bears are ready to take control again. On the KST there has been a bearish cross on a 1-year chart. In this 5-year chart, it appears as though a bearish cross is on the verge of occurring near term on the Williams alligator. It's always possible this pattern plays out as a Giant Bullish Flag, expect to see a re-test of the baseline of support & possibly a fake-out to the downside before breaching the horizontal resistance and re-testing ATH's.
COINBASE:BTCUSD
by ScotianBot
2
Solana hurdles to overcomeIf I'm being bullish - which in the long term I am for Solana - I could see this as a buying opportunity here. What needs to happen in my opinion: - 21MA (blue) needs to cross over 50MA - Price needs to break golden pocket - Price needs to break strong support zone What could signal a turn for worse: - Price currently below golden pocket & strong support zone - 50MA could cross below 21MA - MACD showing bearish divergence on its lagging line What are you betting on?
by Coinathlon
1
BTC TO $37K OR $29K??? Hello folks, Welcome to this BTC update in a daily timeframe. If you haven't checked my previous BTC update then do check it out. The link is in the related ideas section, below. Alright, in my previous chart, I mentioned the bearish divergence formation and the possibility of the BTC price action. We were assuming BTC to reach at least $50k before it falls down but it failed to do so and got rejected from $48825. So far it's an 11% drop and this may possibly continue. Now, as per this chart and the RSI, we may see a bounce from the $37300 level, and if that happens BTC may try to reach the $50k resistance once again. However, the current situation is bearish and if the bearish scenarios continue to grow then BTC won't hold the $37k level as well which will ultimately lead the price back to the $29k level. Remember, the market never goes in one direction. We saw greens in the last couple of weeks and now it's time for the reds. I am sticking with a possible bounce at the $37k level where we can enter into altcoins and make some money but we will surely wait for the confirmation first. I hope you find this post useful. Do hit like and share your views. Thank you.
BITSTAMP:BTCUSDShort
by Dexter_The_Trader
2