BitcoinLong
BTCUSD Divergence
Updated
4 Hour
Three well-defined histogram islands on 4h MACD
Weekly
The same divergence on the weekly that I've pointed out before is still in play.
Bulls are dangerously close to breaking the pre-dominant bearish trend line.
However, the primary trend is still bearish. Never forget that.
We're looking at signs of potential seller exhaustion that counter that trend.
Monthly
We're currently 2 standard deviations below the 20-period MA
Three well-defined histogram islands on 4h MACD
Weekly
The same divergence on the weekly that I've pointed out before is still in play.
Bulls are dangerously close to breaking the pre-dominant bearish trend line.
However, the primary trend is still bearish. Never forget that.
We're looking at signs of potential seller exhaustion that counter that trend.
Monthly
We're currently 2 standard deviations below the 20-period MA
Note
***Oct 2 2022 Update***Weekly
Weekly divergence still in play. Can you believe it? This is the most overlooked long idea on BTC currently. Massive histogram islands on the MACD and it's playing out right now.
I think the signal to look for is what happens on the weekly RSI. Can we rise above this local double top? If so, that could be the straw that breaks the bear's back.
Daily
A strong case being made for divergence on the daily now.
Note
*10/4/22*RSI Alert for Weekly went off today. We'll see where we close at next week. Solid movement to upside.
Note
*2/18/23*It has played out beautifully so far.
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