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Rsi_divergence

Bitcoin Rally Induces More Bag Holders Plus RSI DIVERGENCEGood day guys! Let me start off by saying that I do like Bitcoin and what it represents for us as retail traders. Now with that being said, I posted an analysis about two months ago or so pointing out the massive head and shoulder pattern. I received some disgruntled Bitcoin supporters. Then, a couple weeks later other big analyst started pointing it out as well. Mind you, we did profit from the 12000+ pip move to the downside and off the buying as well. Furthermore, with Bitcoin going as low as to the 29k mark. However, our stops were triggered in profit and we recognized the exhaustion. The exhaustion was presented at the neckline of the massive head and shoulder pattern. The unique thing is Gold had revealed the same massive pattern as well. We all know how that ended, before the massive rejection. You can check the previous analysis that was posted, I called that setup. Continuing on, Bitcoin is showing some extreme bearish divergence in the RSI, while price action continues to suck others into this rally. Understand this, when it comes to market structure, there is always a rally in a downtrend and a sell off in an uptrend. The bigger the rally in an uptrend, the bigger the drop and vice versa. When it comes to trading on higher time frames or from a macro view, it sometimes take time for you to see it through. However, that does not mean it is not going to happen. Those who have been following me knows that I am a long term trader. I look for setups that can be held for several days, weeks and if necessary months. However, I do provide intraday setups as well to snack on. You can see that we are approaching a level where this divergence is unsustainable. In conclusion, I still do see the price of Bitcoin going back to its 2017 highs to build up support. There is a high probability that if the 2017 highs does not hold up, it will fall through to find a new floor and that mean Bitcoin could go as low as $9700. This is not an opinion with no data. This is simply the technicals are telling a story in regards to where the price of Bitcoin could be headed. Most who are crypto traders know that when Bitcoin suffers, other cryptocurrencies go with them. This will be an even greater opportunity to buy at these levels. For beginner traders or those who are not as experiences I want you to understand this, Bitcoin is volatile and can move aggressively. Therefore, make sure you are aware of risk management before trading and consult with a financial advisor before entering into a position. If you enjoy seeing mark ups from us, feel free to leave a comment to let us know. Well we do appreciate you for checking out our post and remember, we will see you on the other side. Rodrick Goss (CEO) Third Eye Traders
BITSTAMP:BTCUSDShort
by ThirdEyeTraders
3
There are some reasons which show Bitcoin will drop!Last week was a perfect week for Bitcoin, Everybody think Bitcoin will breakout strong 40K-42K resistance at this time but data shows opposite! As you can see price is making HHs in 4H time frame but RSI indicator is making LLs at the same time(Negative Regular Divergence). Volume is decreasing! It is a negative sign for trend strength, I think big players are boring guys who takes short positions and they(big players) are trying to hit bears SL again and then DROP. Probably a fake breakout will happen! be careful.
Short
by TahaZargar
10
The RSI explained ! how to identify buy and sell signals Hello everyone , as we all know the market action discounts everything :) I have created this short video to explain what is the RSI and how to use it to identify buy and sell signals with this oscillator , everything you need to know about this indicator is right here. Its been around since the late 70s so its probably one of the more established oscillators out there . So lets check out the formula and how the RSI works : RS=100 -100/1-RS RS (relative strength) average X day up / average X day down So simply lets say we are using a 10 days average so we check how many days the price closed up and we add them and we divide by 10 which would give us the average X days up. And we do the same for the average X days down but we calculate how many days the price closed down and then we add them and divide by 10 ,And after all of that has been calculated we will always get a value between 0% and 100% And that's why the RSI is considered a bounded oscillator it means that the value will always be between 0 % and 100% The oscillator has 2 major zones which are the overbought and oversold zones. Anything above 70% is considered overbought and anything below 30% the market considered oversold . So when the market reaches overbought zone it tells us that the market has gone up to far and its due a bounce back down , and the same when it reaches oversold zone it means that the market has gone to far down and its due a bounce back up. So looking to buy or sell when the market reaches oversold and overbought is one strategy . But because the market moves a lot and reaches these levels so much this way is not as reliable that much , the better way to use the RSI is to check if it has a divergence with the market price. what is a divergence you may ask !!! A Divergence is when the price of the market is moving in the opposite direction of a technical indicator, such as an oscillator, Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction. These signals of divergences doesn’t happen that often but they do give us a better way to use the RSI . And there is it that’s everything you need to know about the RSI and how it works it’s a really simple oscillator and its one of the most popular oscillators used by technical analysts. _____________________________________________Make sure to Follow, Like & comment for more content_____________________________________________ If you have any questions please ask Thank you for reading & watching .
Education
by GabiDahduh
1
Bitcoin 2021: RSI divergence A bearish divergence is the pattern that occurs when the price reaches higher highs, while the technical indicator makes lower highs. Although there is a bullish attitude on the market, the discrepancy means that the momentum is slowing. Therefore it is likely that there will be a rapid decline in price. RSI divergence is primarily used to determine when it’s time to sell because prices are likely to drop or when a general trend reversal is in the cards. As a leading indicator of a trend reversal, divergence should be combined with other technical analysis methods when making the decision to act on a specific investment.
Short
by RNiedson
2
AAPL 4H Short Trade Fibonacci AnalysisHello everyone Quick Fib trading plan We can see that AAPL is in an uptrend overall, although it did gap downwards a few days ago. According to my analysis, there is going to be a leg down to $136-137, supporting this idea: 1) Fibonacci retracement going to the golden pocket (61.8-65) 2) Fibonacci extension 1.618 drawn from the top to the previous leg down dragged to the top 3) RSI showing bearish divergence (prices going up while rsi going lower) 4) Fibonacci retracement 0.5 of the major swing probably going to act as support, adding confluence (blue line + 1.618 fib extension target) Also important to mention that the blue line is the support that was the previous top (resistance), having confluence with the 1.618 fib extension and fib retracement 0.5, making it more probable of happening. Combining all this factors, there's a strong possibility of a leg down towards that level, I recommend always positioning a stop loss , in this case I have two values: 147.54 or 148.31 If you want to share your ideas , comment down below and like if you enjoyed this analysis. Disclaimer: I'm not a financial adviser , I'm not responsible for any losses due to following my chart analysis!
NASDAQ:AAPLShort
by Vasques
Will it ever stop dropping? 😱Despite the huge RSI divergence, there’s nothing good going on in WISH now. We are dropping a lot, and nothing here says we’ll stop. I like to think that the time to buy is when it is dropping, but we must do it carefully, always waiting for our chance, looking at the patterns that could change the trend. We have no patterns now, but if we do a green candle on Monday, breaking through the 9.68 I’ll consider it a good sign for sure. For now, I prefer to watch it carefully, waiting for my chance. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
W
by UnknownUnicorn21312077
7
Looking pretty weak... Will it do something? 🤔We have been moving sideways for a while now, and we have a support at 89. I see nothing amazing here, but I agree that if we see something very good around, it can be a buy. The problem is that the momentum is not the best. AMD is pretty weak, and if you look at the 4h chart, it is disappointing: We have an advanced breakdown in the 4h chart, and this ruins any bullish thesis. We are under the 20ma and it feels like it must do more correction. If it drops to the 87, we can start thinking about AMD again. For now, I’ll be on the sidelines. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
NASDAQ:AMD
by UnknownUnicorn21312077
When will it give another chance? 👀Yes, PLTR lost the support at the 50% retracement, and I think we are heading to the 61.8% next. In the 30min we have a divergence, but it is not a strong one. We are still pretty oversold, but this didn’t top PLTR from dropping today. We have a possible sign of life on PLTR here, but again, I’m focusing on the fibs retracements, as we can see here: It seems we’ll hit the 21, but the RSI is too oversold. We have a complex scenario where PLTR can just drop more to the retracement or respect the RSI and go up tomorrow. It feels like the chances are 50/50. What you think? I prefer to wait for more confirmation now. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
P
by UnknownUnicorn21312077
1
ASX company RLT (Renergen Limited)Dual listed (Australia & South Africa) Renergen is a hidden gem, that appears quite undervalued and is now trading at it's lowest point since beginning of 2021 when it saw a substantial price spike. Price looks to have reached a technical support level on the ASX and we are seeing bullish price divergence indicating a swing back to the upside may be close by. Renergen (RLT) hold the only onshore petroleum production right is South Africa, already have a proven gas resource and have recently uncovered some of the highest helium content readings globally and as a result they have penned an MOU with one of Germany's prestige automobile companies. They also have a strong management team with deep experience in gas production and South African banking and governance. Fundamentally this looks good and now technically it looks like we are reaching a good buy in price. I've used 2 tops as Fib retracement levels that both anchor to the same take off point when the price exploded in the beginning of the year, this creates Fib retracement "zones" instead of a single price line and the chart clearly shows that these zones have been important as the price has been falling. The price bounces around these zones quite a lot. Currently we have broken below the 0.382 retracement zone but now receiving support from the volume (refer Volume profile) as we are now at the heaviest traded volume area since beginning of 2021 and the RSI vs price is now showing bullish divergence. If the price does not move higher from here then the next Fib level below (level 0.236) is between $1.43 - $1.46. If we break above the downward trend line (in white) then this could be the beginning of the reversal and would be an extremely cheap entry for a company with such strong long term prospects. ***This is my personal opinion and I'm not a paid advisor, please DYOR before investing***
ASX:RLTLong
by gary_trades
BTC Divergence, confusingMonths of bear divergence and hidden bull divergence broken when we made our real lower low supported by that lower high. our bulls divergence + hidden bear break when BTC get its higher high but that situation isn't supported by a higher low we made lower low instead, we had our 2nd bull divergence, but it's unclear because we can potentialy had a hidden bear because RSI relatively goes higher and our value relatively goes lower, will that count as hidden bear? I know my grammar sucks, just share what's your thought, i'm genuely confused here. Months of Bear divergence needed to drag us down will this 1month of bullish divergence will bring us shot up sky rocketing? Edo is confused help Edo out of this confusion lmao. Love ya folks
B
by Crizyh
When will it fly again? 🤔We did break the 46.25, but we quickly went back to the range. That’s fine, as NIO needs more accumulation, and let the BB get tight again. Sooner or later, we’ll explode and by looking at the RSI and considering we are above a support area, it seems it’ll break up! The problem is that we could be more oversold in the 4h chart, but I’m not complaining. NIO is slowly breaking its resistances, and since we are at a support area, the risk-reward is pretty good. I’ll keep you guys updated about NIO every day. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
NYSE:NIO
by UnknownUnicorn21312077
9
Just about to do something great! 👀Just like PLTR, we have an advanced breakout on WISH too, but the price didn’t confirm any buy yet. We are still accumulating, and the Bollinger Bands are very tight. It’ll explode soon, and it looks like it’ll be up. We are bouncing after we hit the 10.37, and we even went outside the BBs for one moment, indicating some fatigue. Again, we have no buy yet, but I think next week we’ll have our chance! I’ll keep you guys updated. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
W
by UnknownUnicorn21312077