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Hidden Bearish RSI Divergence

Monthly RSI Hidden Bearish Divergence confirmation.Lets not forget this little bad boi either! Hidden divergence is indeed considered an indication of trend continuation, but have a look at the bigger picture here. Eeeeeeven if BTC remains bullish on the macro trend, this confirmation of hidden bearish divergence could see a comparatively massive pullback. This would fit the "Expanded Flat" paradigm mentioned in my other post today. After a redonkulous 91 level on the monthly RSI one could expect the old dog might be a bit clapped out and in need of a rest. With 2 touches on each side, Bitty appears to be in a positively gigantic Ascending Broadening Wedge. A 3rd tap on macro trend support due to Hidden Bearish Divergence could see the asset return to 15 or 20k... or LESS! The Ascending Broadening Wedge is known to be a continuation pattern, so if this scenario plays out the measured upside move is astronomical. But honestly, this will take years and years and years. A lot can happen to change the course of history in that time, so who knows!? Food for thought anyway.
Short
by syncro23
5
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
Volume and MACD situation on BTC shows signs of weaknessVolume is used to confirm our biases on chart patterns and trends and lots of studies are done on how different chart formations are confirmed with volume. Likewise when looking for a breakout people often look at the volume to consider if it will be maintained or if a chance of throwback is likely. Generally people look at volume by time and the OBV does that well. On Balance Volume Many volume analysis look for bullish or bearish divergences and you can also put some moving averages on the volume to see what is going on for the last so many periods. Here I have the 10, 20 and 100. Much like any moving averages crosses can provide useful signals. This volume situation is pretty bearish. Price has to go a long way to the upside for the OBV to get above the 100 EMA long enough for the 10 and 20 to get above the 100 again and complete a bullish stack. Significant rallys are possible with the OBV below the 100 and the OBV, 10 and 20 can do a lot of braiding and changing of position but large dumps are very probable afterwards. It also a bearish sign that the on balance volume is setting a lower high while price action is setting a higher high with some of these topping candles. The candlestick pattern isn't complete yet but it is staged bearish. Volume Profile Visible Range Right now price is stalling at this volume node. It isn't particularly large but it does coincide with previous support around %49.5k and the 0.786 fib retracement level (not shown). The center of the next node of volume support is lower than many analysts I listen to are calling at about $35k To me that isn't a solid target despite it being the top of the Value area as both major trendlines I see that could provide support are way benign that. The MACD The MACD is showing a lot of hidden bearish Divergence. The main chart does a decent job but below is the MACD settings developed by Mr. Asprey after he did some tinkering. I have split the histogram and signal line into two different charts to view the divergence more easily. Both are very divergent. This is important because hidden bearish divergence is the best indicator that a bull trap is in play. I was using hidden bearish divergence when I was predicting a bigger spill than most prior to the dump in early May on the daily chart. Once again the chart is the MACD-AS with the signal and histogram separated. It does not take a lot to rip a uptrend to shreds. Closing thoughts Lots of things look bullish. On chain metrics look bullish with the Hash ribbons flashing a buy. People looking at commitment of traders also see a lot of buy interest. Lots of coins have been taken off of exchanges. All these things are generally fundamentally bullish. But the Volume situation does not seem to back up some of the fundamental bullishness. The MACD is also in a vulnerable situation. All this makes analysis complicated. We might see a vicious sell off and a rapid rebuy like the Covid 19 dump. We might see lots of people loose interest in BTC specifically while other coins stay strong. Truth be told I am pretty uncomfortable with the disagreement in the charts and the fundamental analysis. Makes me think I am missing something and I don't like it. But right now it seems to be a bad time to be recklessly long to me. I do have a small position on short with a low level of leverage.
COINBASE:BTCUSDShort
by This_Guhy
7
Hidden Bearish Divergence at a 50% RetraceI think XRP has had enough upside from here and will reverse between the 50% and 61.8% retraces. A few days ago i was Bullish on XRP at the bottom of a descending broadening channel but we have since reached the top of this channel and are now showing signs of 4 hour hidden bearish divergence on the RSI. If this continues and we see a reversal from here then i'll expect XRP to go as low as 37 cents near the 886 retracement on the daily timeframe.
FTX:XRPPERPShort
by RizeSenpai
ENJ/USDT expecting continuation of the bearish movement.Hi every one ENJIN COIN / TETHERUS as you can see ENJ/USDT has been falling for a while and the Bearish Trend line which It has created has not been broken so there is a chance that the price remain bearish. also we can see that the price has formed a Descending triangle which of course means the price has still room for Decreasing .there is also a Hidden bearish Divergence(-HD) on RSI as well which well suggest a bearish Movement as well! Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck
Short
by CobraVanguard
16
BTC new wedge or new channels?Bitcoin looks to have surprised a few today as it looks to have potentially bounced off of the trend support I mentioned recently. I have recently changed back to the linear chart and what I find interesting is we are back in a potential wedge again (solid red and green lines). I feel like this is the movie "Jurassic Park" where the boy yells "we're back in the car again" after seeing a potential wedge form after the previous one dragged out for weeks. I should also note: I am the one who grumbles after seeing the wedge, the boy in the movie saw dinosaurs for anyone who hasn't seen the movie; although it is debatable which is worse since dinosaurs did not have cryptocurrency (at least none that we know of) despite it easily being a possible reason for their extinction (possibly due to energy consumption and global warming?). Anyway, there are quite a few possibilities right now, but the ones I find interesting are the potential channels that could form with either a bullish channel (green lines) to potentially bounce near 47K (near some Fibonacci resistance) or a bearish channel (red lines) potentially leading to near 20K (also near some strong Fibonacci support). What is interesting is RSI seems to indicate support for either possibility with bullish reversal divergence (green line on RSI) but also bearish hidden divergence (red line on RSI). I for one typically think that "regular divergence trumps hidden divergence" similar to how "paper beats rock", but as my older siblings have taught me "that's silly, how can a piece of paper beat a rock? don't get your hopes up!", so this very well could be a coin flip still in my opinion until a breakout occurs. Either way, it looks like there are some more entertaining roads ahead over the next few weeks/months compared to the last few weeks (at least one would hope). And of course, this is not meant as financial advice but is only my opinion. But please like or comment if you agree of have any opinions as well!
BINANCE:BTCUSD
by crypto_trends
ETH: Running Triangle. Time to go lower.While the daily chart remains neutral, on lower timeframes the sentiment is Bearish. Here we can spot a couple of signals that give credence to this bias: - The formation and execution of a Running Triangle (white ABCDE Triangle Wave). - Bearish hidden divergence on the RSI and MACD (yellow lines). - The EMA 10 (baby blue) and MA 20 (yellow) crossing the MA 50 (magenta) from above. Should it be confirmed, ETH's price might observe further losses towards the 1600$ range.
Short
by GondolaCharts
BTCUSDT The Dirty Technical Analysis 6/1/2021 BTCUSDT / BTC USDT Bitcoin US tether. HOW I WILL FARM THIS MARKET GAINIING TOTAL OF 500% from alts / bitcoin / alts to Fiat USDT. (strong week for alts - but bearish for long term(monthly)) Pink rectangle should be the Sell area, Green rectangle should be my buy area. *Tips to myself is I will never fomo in to an alt that has huge gain already if I miss the btc flight... if I hold something; I will sell it all (or 50%) on the reds then continue to buy it back at the greens and time to accumulate more. never chase rather be patient. Be patient enough; That's the secret of the rich taking more profits from the impatient ones. Trade this with me... the reason why I did this is because not that I have the crystal ball with me. nor part of the whales; anytime, whales can always decide to FUD and crush the market if they have big institutions coming in. If HNS (blue) is a success expect that dip to 22K then people from huge co. or industries and retailers will buy their coins, and those who sell from 62k will buy more from 33k and waiting for 22k possibilities. from there i can say that we will be able to send greens that will break the sky and fly to the moon. possibilities: 110K from 22K BTC = expect ALTS with strong projects such as $ZIL $MATIC $XVG $VET $DOT $LUNA $ICP $TRIAS $HORD $KSM $EGLD $ADA $MATIC $XLM $XRP Psychanalysis: I always remember myself, when people fail to sell top. they hit the 7% decrease they will be afraid to sell still... afraid of "it may go up" Stop right there myself (i am talking to yself), always do the ABC break/retest whether we are coming up or coming down. Never ever fell in love with the coins when we are in a choppy momentum. Never deny that we are in the bear market (not season) because from there that the time you will lose many of your savings and profits that you could actually have pulled up long time ago. Trade the charting Trade the TA... Block all the noise. Stick to those who really know the process. BITBAY:BTCUSDT
Short
by PuyatanHoldings
2
Quickpost:Dash Looks Like a shortThe main chart says a lot so I am going to go into the 12 hour because that shows a lot. Quite simply price action is still very bearish with both the VSTOP and MTF VSTOP situated bearishly and the 20 period SMA acting as resistance. This is the time frame I have my stops set on and my entry was at $207, My take profit is of course a bit shy of full performance. I am almost but not quite ready to move my stop loss to guarantee a profit. These are very risky times and only the nimble should be trading. This is not the time to learn new skills. If you try and push your limits here with your full account most of y'all will get wrecked, like I got wrecked 3.5-4 years ago. One of the reasons this is a quickpost and I don't need a lot more TA is all the TA I have done recently that points to the begining of a bear market, and I trust my divergences and stop strategy. If I take an L on this it will be a very small one. Here is a quick confirmation on ethbtc, which loosk to be setting up a classic bear trap. Given ETH and BTC .9ish correlation and ETH higher beta it seems we are due for the next leg down marketwide.
KRAKEN:DASHUSDShort
by This_Guhy
1
I suspect SPX will end up like BTCAnd I just need some indicator confirmation before pulling the trigger on some puts. I don't want to crow too loudly, but lots of crypto analysts on Tradingview and/or YouTube have been posting temperamental TA when they wake up, see a candle, and feel compelled to post an update to their TA. Whipped around all over the place as BTC zig and zagged. Many did not zoom out and have forgotten how to look for bull traps. And a lot of these guys are good, I have seem then call bull traps before. Some of them even saw the bearishness but hand waved it away because "we are in a bull market" and a couple of them got liquidated due to stops being too loose. And I stood on my BTC short call, like I am standing on the over-all bearishness of the S&P and Nasdaq and everything else for the next while. BTC on the right had a perfectly predictable bull trap due to wedge support support flipping as resistance and hidden bearish divergence on the histogram, and all the other stuff I went into on my linked ideas Likewise a bull trap on SPXUSD can be very predictable. I have SPXUSD up because it has more price action than SPX or SPY. There are some dissimilarities based on percent gains and slope of the resistance and somewhat concerning, it doesn't look as "wedge-ie" as BTCUSD due to the whitespace. What is similar: Rising wedge broke down Very similar resistance zone (in blue) I will be watching for price action to go to the blue resistance zone and the wedge. I expect price action to thrash around there for a while and then dump. The most ideal thing I could see is there to be hidden bearish divergence from the peak that is about to form to the SPX all time high, and then! classic bearish divergence within the peak, such as a second retest of the wedge after a small dip. The media will be near schizophrenic trying to come up with news stories and will be contradicting themselves all over the place. But I am not going to be caught flat footed by some tweet by Elon or some bungling statement from the "President." sidenote I see a potential descending triangle on BTCUSD... It isn't the main point of the post but still, it means that BTC can bounce and meander around resistance for a couple of weeks even, alts can resume going crazy, and then the rug gets proper pulled. I did a quick skim of some of the BTCUSD ideas and could not see anyone eyeballing the same potential pattern, so I thought I would throw it out there.
FOREXCOM:SPX500Short
by This_Guhy
1