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Hidden Bearish RSI Divergence

Short Idea on BTC from Supply ZoneLooking to short. Entry based on: most recent zone of supply. some important fibs a low volume node that I think we'll be unable to thrust through Top of 1H BBand that should serve as resistance Target: Looking for a retest of the support area, but not too confident in breaking any lows on this TF. Looking to take profit around the candle bodies near support. Stop based on: top of supply zone Low Volume Node in Volume Profile Not expecting price to make a higher high before making a higher low compared to recent lows. Hidden bear Divs forming on many time frames, so the dump may come before we reach that supply zone, in essence creating a lower low. After a major dumps, hidden bear divs are a dime a dozen, so I'm giving them less weight on this entry and waiting for price to trail up higher. Will cancel short orders if Hidden Bear Divs play out and we dump prematurely. Will not look to go long at bottom of range if short orders aren't filled. BITFINEX:BTCUSDLONGS are still too high and BITFINEX:BTCUSDSHORTS have not spiked. Does not give me high confidence in current support holding. Looking for Wyckoffian consolidation at this level. Leverage: 50x
BITMEX:BTCUSD.PShort
by AzorAhai06
10
USDCAD Technical and fundamental analysis.The price have been in a uptrend previously, that is followed up by correctional waves. The correctional waves have been in a strong downwards momentum with low momentum for the consolidation areas followed up by a strong retracement momentum. the price have resistance at 1.28025. while a break can drive the price to 1.28670 which is also 0.707 on fibonacci drawn from the red 0 to ((v)) If the price does not break the 1.28025 level we could se a confirmation on the bearish correctional trend, where 1.24472 and 1.22998 should be closely watched. We also have a bearish hidden divergence within the price chart and RSI. ______ Fundamental. Monday April 23: in the US we have Chicago fed national activity index (inflation pressure) which is expected to be 0,47 less at 0.41 where previously data showed 0.88. We also have market Service, composite and manufactoring PMI numbers which is expected to hold a steady level from last data release. where composite PMI is expected to be 55.3 from last data at 54.2. existing home sales (MoM) is also expected to hold a steady level where consensus is 5.55M from last numbers at 5.54M and last yeas numbers for Marts where at 5.48M. Numbers from Canada are very Thin, and no important numbers are coming out monday. Tuesday April 24: We have Housing price index (MoM) (Feb) for US. The index is expected to be 0.3% lower than previously from 0.8% and therefore consensus at 0.5%. Last years numbers where at 0.4%. S&P Case Shiller Home price indices (feb) is also released where consensus is 6.2% from last numbers at 6.4% and last years numbers at 5.6%. Thursday April 26: Continuing jobless claims from the US is released where it previously was at 1.863M, and a consensus at 1.835M for April13. We also have durable goods order for Marts which is expected to be 2.1% less than previously at 3.1% and therefor a consensus at 1.0%. last years numbers showed 1.7% for Marts. Friday April 27: GDP Price index (Q1) is released by US. where the previously numbers was 2.3% and have a consensus of 2.0%. and last years numbers at 2.2%. GDP Annualized (Q1) is also released where the previous numbers where at 2.9% with a consensus of 2.3% and last years numbers 0.7%. Core Personal consumption expenditures (QoQ) (Q1) will also be closely watched, where consensus is 1.5% down with 0.4% from last numbers at 1.9%. ______ We have for a long trade. 1. Break of the 1.28025 level could drive the prices higher, to 1.28670. 2. Easing Trade war tensions. 3. Decrease in oil-prices. 4. good data from US. ____ Short trade. 1. ending of impulsive waves and entered correctional area. 2. hidden bearish divergence. 3. Consensus of bad date from US 4. Price near resistance area. 5. dumping of US currencies from countries. 6. Geopolitical risks. 7. increasing oil prices, as a consequence of geopolitical tensions.
Short
by Fx-AlphaStrats
2
BTCUSD You See What I See? Hidden Bearish Divergence MACDIf you have look at the daily chart you can see a clear hidden bearish divergence which is a trend continuation sign (confirming that we are still going down). It also forming on the simple RSI too. On the MACD the lines arent crossed yet. We might move up to 9.5k and possible create a double top there then move down. Yes we broke the bearish trendline, but it is not as significant as the fact that we also broke the longterm bullish trendline. Target is still 5k as the fibonacci shows. Let the bulls to take their last breath and let's move down! ***It is NOT a financial advice. It is only my personal opinion*** Please leave a comment below and like it if you think it was helpful!
BITFINEX:BTCUSDShort
by KryptonuQ
7
NZDCAD Sell IdeaW1 - Price is at the middle of the range, hidden bearish divergence formed, band to band move. D1 - Bearish divergence forming, price is about to reach the magnet zone. We might expect a reversal from this zone or we might expect one more push to the upside and then a reversal to happen from there. H4 - False break but no divergence yet so we may expect one more push up with bearish divergence to form. From that point we can look for sells. H1 (Aggressive) - False break with bearish divergence. If the price breaks below the current low at 0.91200 (approx) we can start looking for sells. If the risk reward is not good based on your targets, then look for pullbacks in the form of double wave up and then go short with the breakout of the most recent uptrend line.
Short
by VladimirRibakov
Bitcoin is still bearish (4h)I still see a bear market. Bitcoin broke through the local 1.62% downtrend line yes, but could not break the larger downtrend line. Until it happens we are still in a bear paws. --- Let's return to Technical Analysis . I see the formation of the pattern "Head & Shoulders". The pattern will be confirmed if the market fails under the neckline. Stochastic RSI is in the overbought zone. RSI shows a hidden bearish divergence = signal possible bearish trend continuation. The market must break the downtrend line, 50% Fibonacci and resistance at 4050 to become bullish . With current indicators I doubt that this is possible. But any turns are possible, as we all know FOMO IS REAL, so here are the settings for the current situation: — Stop Loss: above downtrend line and resistance line at 4050. — Take Profit: near and below the first line of support at 3450.
BITSTAMP:BTCUSDShort
by sasha_morozov
2
Sample RSI setups on #USDCADThe RSI can be a great trading tool if used properly. Most Traders use it for an overbought/oversold indicator and that is the worst use of the RSI. As you can see from the chart, there are multiple short term trade setup in this one hourly chart. Although I am only showing 3 examples there are many more setups on this chart but did not want to make a mess of the chart. I will continue to post RSI trade setups and RSI educational information in the future as time allows.
by CurrencyWaves
2