Bearish Divergence in Bitcoin

Great shorting opportunity in Bitcoin on the 1 hour chart

We see a clear Bearish divergence in the RSI verse Price

SIGNAL: Higher highs in price, lower highs in RSI indicator.

See previous three examples always resulted in pullback.

You can short this pullback OR wait for a pullback to 4000 to buy back in.

This is one of my FAVORITE signals

Note

As predicted, price falling from that Bearish Divergence.

Now we have trendline support. If that holds we could head back up, place stops below trendline. If it breaks, then 4000 becomes next support.

Note

You can see my prediction playing out perfectly so far. We had a bearish divergence, and now we are bouncing on that 4000 support level. I think it could bounce here and head higher.

LONG target 4500, stop 3850

of course, it could break 4000 and that means a pullback to 3500, and another buying opportunity there

BerlinTrader591

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BerlinTrader591

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