This chart is a monthly chart of Bitcoin (BTC) against the U.S. Dollar (USD), showing historical price movements and potential future scenarios based on the chartist's annotations. Here’s an explanation of the key components:
Bitcoin's price peaking around $69,000 before experiencing a significant drop.
- There are trendlines indicating past price movements...
The chart shows a possible bearish divergence, where the price is making higher highs while the Relative Strength Index (RSI) is making lower highs. This can be a sign of weakening momentum and a potential price reversal. indicates key levels around $39,000 and higher levels around $65,000. These could act as significant support and resistance zones. after a...
As you can see we adjusted our Stop loss to 33230.
We’ve created another divergence, which is why I adjusted and stood in this trade.
We are riding it until SL or TP
Good luck and see you at the bottom, because regardless if I get stopped, this thing will go down!
As you can see the 1HOUR TF has been making an strong divergence along with the RSI.
We are currently in a downtrend, but very tricky due to the fact that we broke our previous higher highs. US30 tends to break highs as form of liquidity grab, it’s almost like it’s tricking the retailers/buyers but that’s not what’s important.
Stop loss can be set around...
As you can see the 1HOUR TF has been making an strong divergence along with the RSI.
We are currently on a downtrend, but very tricky due to the fact that we broke our previous higher highs…
Stop loss can be set around 33200-33230 to have some breathing room.
If we break below 33920 it’ll be a strong indication to the down side.
Other than that this a strong...
