Bearish divergences forming on all timeframes from the 1 week down to the 1h. Expecting a nice drop to the macro golden pocket, potentially down the the .786/886 fibs over the next few weeks before we bottom out for good.
Based on the two drives of 4h hidden bearish divergence on RSI and no bullish divergence on the daily with a potential for hidden bearish divergence to form on the daily based on this closure i would expect to at least get a wick below .3328 for the first possible bullish divergence to form on the daily, I am leaving the majority of my trade open until we come...
BTC is looking a little rough in my eyes. We have rejected the 4h range high at 21750 and formed 2 drives of bearish divergence on the 4h RSI and most higher timeframes below the weekly RSI which is still showing bullish divergence. I am not typically a pattern trader but there is quite a lot of confluence for a drop to the macro timeframe 1.414 fib at 12k.
Expecting one more push to the upside to form a third drive of bearish divergence on the 1h as well as another drive on the 4h rsi. i am expecting a pull back at 1780. After that pull back, if we can remain above 1750 I am still waiting for a last push up. Once we close a 1h candle above 1782 (1h range high) then I would consider that bounce confirmed and look for...
Potential plan for ETH in the following days using Elliot waves and Fibs as long as it can hold this low. We also have the potential for the descending wedge with a target of 1900 which is also a .786 fib retracement from the high back on August 22nd to watch for
