$BAC Wedge + Trending + DivergenceMonthly Chart
Weekly Chart
1. Wedge
We can see in the 1-hour chart of Bank of America that is forming a wedge. We can see the wedge with the purple lines in the price chart.
2. Regular Divergence
In addition we can also see a regular divergence from 6th March to 23 March while the price was falling the indicator in the Rsi was rising.
3. Trend Line
We can see better in the monthly chart that there is a trend line that is forming from about 2008. The next days that will be tested.And the is the second more general trend line forming decades before.
4. Support Line
Also if we look in the monthly chart we will see that there is a main/strong support line that in the next days will be tested again. The 1st support line lies around at 15.24$ and the second at 4.92$
From the first two factors we can see that might be a breakout and form a new uptrend. At the 1 hour chart we will see that the wedge the 1st trend line and the 1st suport line get together in one spot.
So the first scenario will be to test that support at 15$ and form a new uptrend.
The second scenario is to break that support and fall until it lands at the more strong 2nd support and resistance at around 4,5$ and then form a new uptrend from there .
Scenarios
Regulardivergence
$AMD Trend Reversal( Elliot+Divergence)We can see at the 1-hour chart of AMD stock that:
1. ELLIOT WAVE
We see the 1,2,3,4,5 and the A,B,C completion of the cycle and the C probably will lie in the green rectangular zone possibly test the support zone at 34$ .
2. Regular Bullish Divergence
We see in the price chart that the price at 27 of February was at 41$ and then until now is falling around $37, when the rsi in the same period is going up from 22 to 48.
So from the two these factors i expect a strong uptrend in the future and it will test the resistance at 52$ and will see if it breaks it.
Introduction to the BEST All-In-One Oscillators with divergencesHello traders,
A unique indicator displaying many oscillators with a multi-timeframes and regular/hidden divergences options for all oscillators below
1. MACD
2. MACD ZERO LAG
3. RSI
4. DMI/ADX
5. ATR
6. STOCHASTIC RSI
7. TRUE STRENGTH INDEX
8. CANDLE MOMENTUM OSCILLATOR
9. VORTEX INDICATOR
10. COMMODITY CHANNEL INDEX
11. RATE OF CHANGE
☔ Safe crossing mode for RSI/STOCH RSI/CMO: Choose to get alerted whenever the oscillator enters or exits the Overbought/Oversold zone.
Wishing you all the BEST for your trading using it.
Dave
DAG boom soon - Pullback on broken bearish trend lineIt also has divergence and most indicators confirm that :)
#btcusd - Regular Bullish Divergence 240Regular Bullish Divergence 240 just finalized on BTCUSD (BitStamp).
What does that mean?
For now only, that there is a possibility we are sitting on a local low currently, key-levels will decide.
Keep an eye on those ;) Current support is S1-Weekly @ 8594, resistance @ 8931 (P-M)
Next levels @ 8165 and @ 8165
Remember, this is only 1 indicator.
Neru
BTC.D shows a strong reversal sign, but it is still strongBTC.D shows a strong reversal sign, but it is still strong
BTC.D (BTC dominance) ran as my last prediction, it ended at around 73.5% before having a correction.
A regular bearish divergence between BTC.D and its RSI appeared on the daily chart, forecasts a bigger correction of BTC.D.
BTC.D meets its MA20, strong support that can push it up to near 73% before another down.
There are 2 strong supports (MA50 and local support) below MA20 that prevent BTC.D to have a hard dump.
Since BTC.D momentum is still strong, I expect that BTC.D won't drop to below 69% in this month and next month.
Altcoin season is not coming yet, even it may never happen again, but there will have a small rally of altcoins regarding BTC.D's drop.
If BTC.D's RSI breaks its long-term support that lasts for 9 months, a massive drop of BTC.D will take place leading to an altcoins blooming season.
P/S: It may have a small fluctuation of the values (around 1%). I use tradingview BTC.D in this analysis, in coinmarket.com the BTC.D values might lower than tradingview values around 1-2%.
An expected move of BTC.D and its MAs are as shown in the chart.
Thanks for reading, share your thought in the comment.
2 BITCOIN Scenarios You DO NOT Need to Know About! BUT...Dear Friends!
If you are are curious about them, I will give you the 2 most likely scenarios at this very moment: Let's first zoom even more out, so you have an idea where we are:
As you can see we are about to make the Z-structure, which is part of a triple three combination correction. When we are done with this 11 Wave Correction Structure (WXYXZ), we can hopefully start a new uptrend again with 1-5 Elliott Waves Up.
Here are the 2 scenarios:
1. Blue Scenario: We are on the 4th sub wave of A - Wave 4 usually retrace 23.6% - 38.2 %, why we can expect the 4th wave to hit my light red box. Remember that 4th waves are usually prolonged. This idea also matches my existing Elliott Waves. If this is the case we still need a 5 wave down on A, and the blue B and C, hence we basically must assume that we will go lower than scenario 2.
2. Orange Scenario: We are here done with the 5th sub wave on A and are in the process of making the B-wave (in orange). What supports this argument is the Regular Divergence (look at the RSI) on the last Wave, which we always must have on the last impulse wave.
Please leave a LIKE and I will zoom in on the action, and give you an update soon, so we can make some money!
D4 <3