Freakin bullish divergence dumping... Again
Updated
pretty much self explainatory, the minimums on the indicators are growing while we keep being dumped. I expect a retracement testing the green-blue wedge, perhaps even all the way up to €6000 ($7300) to test the purple huge resistance trendline that comes from the market's tops.
Stochastic is showing slight bullish divergence and also MACD might be about to turn bullish.
I'd say going long now with a stop loss around €5000 under February 6th minimum (the wick of the candle) and a target of €6000 with a 1.6 risk/reward is a decent move in this scenario. 6k target would be the 78.6% retracement of the violent dump of april 3rd-4th, and if the indicators are to be trusted that kind of reaction could be possible.
Stochastic RSI is also barely bullish in the Weekly chart, but not the RSI itself
the selloff doesn't seem to be done in the weekly chart as MACD keeps growing to the bearish side but the stochastic is really REALLY close to 0 and extremely oversold, like 2015's levels. I think this is the bottom for now, but I wouldn't bet all my stack on a reversal just yet.
Oh and btw, I can't comment on other people's charts due to not being pro and having less than 50 reputation. I've refrained from begging for likes until now, but the stupid Tradingview reputation system pushes me to do so now. Please, give this poor frog some love and help me get from 27 to 50 reputation. That's all I need to at least be able to interact properly with other traders here! :D
Good luck fellas
Stochastic is showing slight bullish divergence and also MACD might be about to turn bullish.
I'd say going long now with a stop loss around €5000 under February 6th minimum (the wick of the candle) and a target of €6000 with a 1.6 risk/reward is a decent move in this scenario. 6k target would be the 78.6% retracement of the violent dump of april 3rd-4th, and if the indicators are to be trusted that kind of reaction could be possible.
Stochastic RSI is also barely bullish in the Weekly chart, but not the RSI itself
the selloff doesn't seem to be done in the weekly chart as MACD keeps growing to the bearish side but the stochastic is really REALLY close to 0 and extremely oversold, like 2015's levels. I think this is the bottom for now, but I wouldn't bet all my stack on a reversal just yet.
Oh and btw, I can't comment on other people's charts due to not being pro and having less than 50 reputation. I've refrained from begging for likes until now, but the stupid Tradingview reputation system pushes me to do so now. Please, give this poor frog some love and help me get from 27 to 50 reputation. That's all I need to at least be able to interact properly with other traders here! :D
Good luck fellas
Trade active
so far so good... MACD daily just turned bullish, wonder if this would trigger some reaction overnightNote
Trade active
pump incoming after bull flag, expecting 6k€ and then I'll take a look at the broader picture 
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