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Bullish Divergence

PolkaDot DOTUSDT - ABC completed! Elliott Wave + Channel- On the weekly/3D chart we can see a parallel channel and the price is currently on the support of the channel. - Due to my Elliott Wave analysis - the ABC correction has been completed successfully and now we are prepared for another bullish market! - 0.618 FIB is the strongest FIB level and the price si currently sitting on this level. - If we take a look at the RSI indicator, we can spot a nice bullish divergence with a lower high! - Wave 1 horizontal support (previous swing high) from 2020 is another great support that we have. - Look at my ideas about another interesting altcoins in the related section down below ↓ - For more content, please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
3
BTC Long Term And Short Term AnalysisBTC LONG TERM - On the 1D the green spot has confirmed from yesterday with bullish divergence at the same time but the stochastic Is still crossing down on the 1D. On the 4H It has come down to the 55 Ema it would be nice to see it bounce off that, If It does then I can see a bit more upside towards 21700. BTC SHORT TERM - My short term target from yesterday was hit (20400) It's been rejected off that resistance and a red spot and the stochastic crossing down too. Like I said with with 4H as long as It stays above the 55 Ema i can see a bit more upside. Shorter target 21000. BTC OVERALL - I think BTC will carry on this move upwards of at least 21000 if it stays above 19700. Let me know your thoughts in the comments and like my idea!!
Long
by cryptokid1507
1
BTC Long Term And Short Term AnalysisBTC LONG TERM - On the 1D it could get a 3rd strike of bullish divergence on the Crypto trend indicator which could maybe give it a little bounce upwards to 22900 then maybe come down further once the divergence has played out. BTC SHORT TERM - On the 1H it looks like it wants to bounce a bit more, it has broke the 21 and 55 EMA with the stochastic crossing up and a green spot on the crypto trend. Short term it could test upwards to 20400. BTC OVERALL - I think BTC will continue this bounce up to at least 20400 with it looking bullish short term. Let me know your thoughts in the comments and like my idea!!
Long
by cryptokid1507
1
How to Trade Bullish DivergenceAt some point in your trading career, you will hear the term "Divergence Trading". Divergence simply means when the price and indicator are telling the trader two different things. It can be an effective addition to your trading strategy, especially if already using indicators like RSI or MACD to find overbought and oversold levels but should not be replied on by itself and requires practice to get it right. There are two types of Divergence you want to be familiar with: Regular bullish and bearish divergence and Hidden bullish and bearish divergence. In this educational tutorial, I will cover Bullish Divergence. You should note that the appearance of divergence doesn't happen 100% of the time, but when it does, you can use it for additional confluence (extra confirmation) for entering trades. Bullish Divergence Overview: 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. Notice in this example of GBPCAD, the price was in a downtrend and eventually came to a low at 5494 and rejected the area. The price shows a decline, while the RSI shows the oscillator moving higher. This is an example of regular bullish divergence, as it signaled a potential trend reversal. How to Draw Bullish Divergence You want to draw lines on successive tops and bottoms. Connect the tops and bottoms only, and keep your eyes on the price. If you draw a line connecting two lows on price, you MUST draw a line connecting two lows on the indicator. They have to match! Divergence only exists if the SLOPE of the line connecting the indicator tops/bottoms DIFFERS from the SLOPE of the line connecting the price tops/bottoms. Popular Indicators to Use When Identifying Divergence You can use indicators such as RSI, MACD, CCI, or Stochastic to trade divergence. Your selection in one of these indicators will depend on personal preference. I personally prefer the RSI at a 7 period. If you spot divergence but the price has already reversed and moved in one direction for some time, the divergence should be considered played out. You missed the boat this time. All you can do now is wait for another swing high/low to form and start your divergence search over. What is your favorite way to trade Divergence? Let me know in the comments! Happy Trading! :) - Brian & Kenya, BK FOREX ACADEMY
Education
by BKTradingAcademy
9
Bitcoin coud be ready to start pumping hardAs you can see in the chart Bitcoin looks very bearish, it has reached the previous bull market high witch is a strong support, but it broke this one and closed a daily candle under it. It has made lower lows but if you look at the Moving Average Convergence Divergence indicator it hasn't reached new pronounced lows while bitcoin has. It has formed a clear triple bullish divergence that is a super strong buy signal and an early sign of trend reversal. In the other side we have a broken support witch is a strong sell signal and i think that it would be difficult for the price to close over 21k in short term. In my opinion is more likely for it to form an accumulation channel between 17500$ and 21000$ and then it will come the strong move. What side? I don't know, In my opinion the mos wise full action is to wait for confirmation and take action. If it closes a daily over 22500$ within this week the reversal could be confirmed but if it fails the failed Moving Average Convergence Divergence triple bullish divergence will turn in a very strong sell signal, and the price will go lower. I will be glad to see what do you think in the comments, if you agree with me give me a like, it helps a lot.
by piccard54
BBGI | Wave Projection Dragon Pattern - Bullish divergencePrice action and chart pattern trading setup > An impulse downtrend Elliott Wave channel with a dragon pattern forming rear legs > possible upcoming bullish divergence signal at the next support 8.00 baht targeting 2.618 extension > Entry @ dragon ridge breakout > Short term target @ previous wave 4 position > Medium term target @ wave 1 and wave 2 position + 15 - 20% upside > RRR: 2:1 for short term and 3:1 for medium term trade Always trade with affordable risk and respect your stoploss
B
by dukeposh