Retracement? Or bearish continuation?
We’re in tricky waters right now. We have a long term bullish divergence in price action indicating a relief rally is upon us, at the same time there are substantial bears in the market hanging out around the 0.000015 supply zone that have been down badly on their investment for over a year now still looking for a gracious exit out of the market.
Short term, we have a bearish divergence over the last month.
Medium term, we have a hidden bearish divergence (lower high price, higher high oscillator) that has been developing for several months now.
I think this phase in crypto right now is make or break for another bull run, or maybe Punxsutawney Doge has seen his shadow and we ought to be sheltering in place for an extended winter.
We have a massive bullish divergence on the weekly, Indicating selling pressure may be alleviating. Or the last few months have simply been a redistribution phase leading to one more drop in price.
DXY has been rallying. It is still in a medium term uptrend. DJI and SPY are struggling to move above the 50 week moving average. All I know is, once the tug of war is over, the next move will be BIG. Which direction? I dunno. But I’m trading both sides.
Short term, we have a bearish divergence over the last month.
Medium term, we have a hidden bearish divergence (lower high price, higher high oscillator) that has been developing for several months now.
I think this phase in crypto right now is make or break for another bull run, or maybe Punxsutawney Doge has seen his shadow and we ought to be sheltering in place for an extended winter.
We have a massive bullish divergence on the weekly, Indicating selling pressure may be alleviating. Or the last few months have simply been a redistribution phase leading to one more drop in price.
DXY has been rallying. It is still in a medium term uptrend. DJI and SPY are struggling to move above the 50 week moving average. All I know is, once the tug of war is over, the next move will be BIG. Which direction? I dunno. But I’m trading both sides.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.