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Hidden Bullish RSI Divergence

Weekend target of 56k possible for an ABC correctionThere looks to be a high possibility that bitcoin is currently in an ABC correction coming down from the current ATH. As shown, A ended at ~59.5k with a 5 wave correction down and now we are an ABC correction (shown in green) for a larger B correction up. I think from here bitcoin will fall back to the 61k region with a bounce to 64k to complete the B wave. Note: A break of 59.5k would invalidate this and we would have to say Wave C down has begun with Wave B ending at 63.7k and have to find new potential targets and Wave counts. Then after, 5 waves down to complete the C wave which shown by an estimation of a 1 to 1 retrace puts it near 56.5k. As to the timing I use parabolic curves (I have found to be good at finding reversals) for the B wave ending on the 4H chart: For the ending C wave: This also suggests that it may drop to around 56k as there is a strong potential for support here as shown by the green horizontal line drawn in. I would say most likely a bounce will happen in this area as long as it follows this path. There currently is hidden bullish divergence on the 4H RSI which I believe to be playing out now and also a hidden bull is showing on the daily. I believe for the daily RSI though there is potential to be a stronger hidden bull that will occur following this ABC correction Yellow - Current Hidden Bullish Divergence Green - Potential Hidden Bullish Divergence at the end of Wave C To invalidate this being an ABC correction, or to say it already completed, it will need to break the current ATH, then I will need to reassess as to where the new target may be. As to what this means overall for bitcoin I will wait and see as to what happens next. If this is a B wave we're currently in I will like to see where it ends first. After that it would be more accurate to figure out where Wave C would end and then determine what count we are starting on the larger time frames (Weekly and up). I will post more ideas to this and more about the idea of still seeing a new ATH in the near future and what the potential target(s) may be. ***Disclaimer: I am not a financial professional/expert and all ideas from me are all speculation based off of my own research. Please do your own research as well as I am not responsible for others when it comes to their financial decisions.***
COINBASE:BTCUSD
by WITSIT
Vechain Possible Hidden Bullish Divergence!!?Looking at Vechain we have recovered nicely off of the little correction we had and we are starting to push back up towards our previous high at 0.16c shown by red horizontal ray, but the main thing i wanted to discuss here is the very possible hidden bullish divergence that could play out in the coming days/week/s. This pattern is a continuation pattern of the current trend we are in and could keep pushing VET to the upside. Before we get into this possible outcome lets discuss the bollinger bands first, the main thing we notice is the squeezing of the bands which means volatility is shrinking and we are set for an explosive move in a matter of time, now the bollinger bands don't indicate which way but that is why we use other indicators to try and determine that. we are holding the midline quite strong and its looking like we will continue too after todays daily close, and keep in mind with the bands so close to price action a little pump could ignite a massive one if price action grabs onto that top band! Now the hidden bullish divergence, what we are looking for and we are already seeing is higher lows on the price chart which is shown by the green uptrend line and then lower lows on the oscillator and in this case i am using the stochastic RSI, look at the yellow horizontal ray, that line shows our previous low and what we are looking for here is a fall below this level and a creation of a lower low, similar to the path ive drawn on the Stoch RSI, the path shows a likely scenario because we have support down there shown by the green horizontal line, but we could see this play out anywhere inbetween the green and yellow horizontal lines and anywhere in that area would be valid for this divergence! and with the stoch rsi just having a bearish crossover this could play out perfectly, on the price chart we still have a bit of room to fall down along with the stoch RSI we just have to make sure price action keeps on making higher lows which can be seen by following the green uptrend line, if we made a higher low on the green uptrend line that will definitely be enough for the stoch RSI to fall into that zone we talked about and then go on to make that lower low. Now something key here is when we look at the RSI we see that we are falling a bit along with the stoch RSI which is completely normal and we are coming up on the midline in a bit and now this is where the hidden bullish divergence CONTINUATION comes into play, we are currently in an uptrend shown by being above the midline and we want to stay above here when the stoch RSI makes that lower low to complete the divergence pattern and the continuation part goes hand in hand with us being in a confirmed uptrend. And when we talked about having room to fall on both price action and the stoch RSI the same thing goes for the RSI, we definitely have room to fall along with both of these other factors and we can likely see ourselves getting a bounce off the midline which is currently support (as shown by path) and then continue back upwards, it really looks like we could see all of these get that bounce which we need for this to complete the pattern and the beauty is that all these indicators play into eachother and follow eachother so that gives us more hope that this is really going to play out similar to how i have it layed out! Then pair this divergence pattern along with the squeezing bollinger bands and we could definitely have ourselves a huge catalyst for a mega breakout to the upside and a continuation of this uptrend! Not financial advice! If you have any questions don't hesistate to ask i will do my best to explain further and answer in good time! Cheers everyone this is very exciting!
BINANCE:VETUSDLong
by JacobR905
ADA can create a new ATH!Hi every one Cardano / US Dollar ADA/USDT has formed a Pretty big Bullish Flag which the Price has not managed to break this pattern! There is also a Hidden Bullish Divergence (+HD) on MACD which Strengthen this bullish Pattern Expected Movement! If the Break out happens we can be sure of Creating a New ATH soon But ADA first must break 2.5 and than 3$ resistance to be able to advance further! The expected price for ADA Midterm is around 4$! Summery: -ADA has formed a Big Bullish Flag -(+HD) on MACD -Potential of Creating a New ATH -resistance levels at 2.5& 3 $. -No break out , no Confirmations! -Mid term Target: 4$ 💎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
Long
by CobraVanguard
26
ADA's latest Movements Explained + Expected movement for future!Hi every one Cardano / US Dollar we are gonna Review ADA's latest movements . first ADA has started a bearish Movement in a Descending Channel after the Bullish break out happened , ADA formed a Big Rising Wedge Pattern and when the Bearish Break out happened, The price Formed an Ascending Triangle which The break out for It has already happened and it Increased the Price .These patterns are all in a big ascending Triangle! The price has not managed to break this pattern yet, but when the break out happens the price is gonna Increase as much as the measured Price movement (AB=CD). If that happens ADA is Gonna Reach 4.2$ which will create a New ATH! with Alonzo Update right around the corner, the odds of Creating a New ATH is High! wait for the Break out to happen! Summery: -ADA has been in a lot of patterns Recently!(channel,wedge,triangle)! -all of these patterns are in a Big Ascending Triangle! -the Price can Create a New ATH at 4.2$ -since Alonzo update for Cardano is available soon, The odds of creating a new ATH is Pretty High! -Wait for the Break out 💎Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Thank you for seeing idea . Have a nice day and Good luck
Long
by CobraVanguard
33
Monthly Hidden Bullish Divergence Supports DXY Upside MoveA quick post with wide-reaching implications. I have distorted the charts to really zoom in on the hidden bearish divergence. The price action has a higher low but the MACD and RSI have set lower lows. That action increases the probability that we will see a sustained MACD cross and a uptrend that could last a 18-24 months. A zoom into the weekly time frame shows a double bottom. There was some chop going into the double bottom so I am not surprised by the chop I currently see at the neckline. That move completing to target puts DXY around 98. Predicting what will happen in the markets is always confounded by central banks so I hesitate to forecast too far out. If DXY is strengthening that is relative to a basket of currencies. Those other countries may experience increased dollar demand due to their dollar denominated debt, and that just sees the dollar go even higher. The initial move in the dollar could see US equities sell off as they are dollar denominated and other countries market participants cash out to meet their dollar demand. There is also the usual squeeze on the store of value trades/investments in silver, gold and for some, bitcoin. We get into dollar milk shake theory by Brent Johnson out of Santiago Capital but that is a big can of worms to open up. Quite simply I am just preparing for a DXY move to the upside.
TVC:DXYLong
by This_Guhy
3
Symmetrical Triangle Play on DashThis is a simple support and resistance play on Dash with the basic adage: the trend is your friend into the end. We have a 50 day uptrend and a three week consolidation so far within this triangle. That means we have support and resistance trades that really don't require that much overthinking. I am long at the triangle support with a stop loss as shown in the main chart. Take profit will be just short of the fib retracement golden pocket at $345. Risk to Reward is a nice 14. The dotted line is the height of the triangle and it concurs with the fib retracement target at 1.618. Thirty minutes is a pretty low time frame to be looking for hidden bullish divergence but it is there in the chart below. Given we have a 50 day uptrend and that contains a 3 week consolidation pattern we are looking to simply set a stop loss at support with a bit of validation from the indicator. This is our third touch on the triangle support so it lets us get a tight stop on low time frames. The bearish scenario is rather than being a consolidation pattern this is an ABC correction and we would have downside targets around 160 or 120 ash shown below. The rational for that trade would be that the blue line had flipped from support to resistance. Should the price break down from the triangle I would be watching it to retest the previous triangle support as resistance before taking a short. In other words, according to my system I would not be short just yet. And I want to give a fair hearing to the bearish scenario. Based in daily indicators alone this chart looks really bad. But as I said in the beginning, this is a play on continuation to the upside and the triangle support is currently being validated, so I am taking my long in the face of this brutal daily chart. If you are familiar with my system then the chart below makes a lot of sense. I use the VSTOP and MTF VSTOP to determine trend and dynamically chart support and resistance. This play is using continuation to assume the VSTOP will act as dynamic support in this instance hold. If I am wrong I will be stopped out in short order. The linked ideas show some relatively low time frame formations that made target in short order. The BTC head and shoulders did suppose that the formation could over-perform due to how tenuous the bitcoin situation was but when price broke down it went right to the 1.618 fib retracement level before pamping. Likewise on the dashbtc target. I was hoping for more continuation but price went right to the 1.618 level then dumped. This time I am going to be agnostic when it comes to hoping for some over-performance. I will be taking all of my profits, thank you.
Long
by This_Guhy