bitcoinmaybe all this time bitcoin made us a cup and handle pattern.
and in last correction wave I see a falling wedge. can u see this?
Btceruo
Small thought and notionHello beautiful person!
Hope you all are doing great today and did you manage to collect some profit during this approx 10% price movement of BTC?
Just wanted to pop in quickly and share a thought I have on current market movement, because I spotted an very small divergence on the RSI on 4 hourly chart.
If you are in the market today or are ready to commit to some trading, please take a closer look into the indicators and the news to re-check your strategy; just to be sure.
After the initial spike of buy order, which happened within a 4-6 hour window, the market has been horizontal, but the RSI is pointing downwards; which could indicate a change in trend, or just due to "white noise" in data.
I switched to Heiken Ashi to see if the divergence changed, but it did not.
Overall market cap has not increased much over the past 7 days that comfortably describes the sudden spike of buy orders that got us to the price level we are seeing today. That combined with the overall trading volume afterwards have not increased either, the question then remains: will this price level hold?
Summary
spotted a small divergence on RSI, that could potentially indicate a trend reversal.
The rest of my momentum indicators are still showing strong continuation of current trend.
Volume and total market cap is not much changed.
Be cautious and re-check your own charts and indicators before trading.
PS
Seems like the Alt-coins are getting some price and volume increase, for those of you who are interested in that market.
Stay safe, and keep on doing great things!
