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Bearishdivergence

Bitcoin in MAJOR Trouble?Recently I posted an idea about bitcoin breaking out and running to much higher prices and shortly after, the number 1 cryptocurrency asset attempted to take the first step to doing so. However, there was no follow-through in price action and now Bitcoin finds itself in a very vulnerable position. It is still very bullish in my opinion and I do believe more price action to the upside is coming, but right now Bitcoin has painted several bearish signals on its chart that must be discussed. One of them being a bearish reversal candle on the daily chart. More specifically referred to as a bearish engulfing candle. They form at areas of resistance and are often validation of weakness in price action such as bearish divergences for one example. There are other bearish reversal candles as well.. this is just one of them. We also have major weakness in relative strength as we have now confirmed triple bearish divergence on the daily RSI. There is also a strong case for bearish divergence on the weekly timeframe as well. For now it is expected for us to remain in the trend but with all of this major weakness in the market, follow through sell pressure could come at any moment. We are now heading into the weekend, so the price action over the next few days will be unreliable. This could be a good thing as this may give unsure traders time to adjust or hedge their positions. If and when that breakdown occurs, there are levels of interest that we will discuss. But for now as we head into the weekend, we must simply wait until institutional markets open back up on Sunday evening.
BITSTAMP:BTCUSDShort
by TradeVibez
Is the WDFC earnings pop sustainable?WDFC, the manufacturer of WD-40 ( sprayable graphite) had a great earnings beat and a celebratory pop of 5%. My question is whether it can continue? On the 15 minute chart I have added four indicators and what they might indicate: (1) the Lorentzian Machine Learning Alert System with default settings with a few removed which shows the initial buy signal of July 6th. No sell signal has been printed since earnings. (2) the MTF RSI indicator of Chris Moody showing the RSIs one hour in black and 15-minutes in blue presently topped out and the lower TF in blue decreasing showing a bearish divergence. (3) The MACD shows K / D lines rising in parallel but very extended above the zero-line showing very high amplitude. (4) The volume indicator showing that volume did not get a relative spike with the post-earnings price pop. Overall, with heavy consideration of lack of volume with the price pop and the bearish divergence on the RSI, I will not take a long trade on this post-earnings WDFC. In fact, if I can find a good entry on a 3 or 5-minute chart, I will take a short trade. I price rise with a good volume spike might potentially convince me otherwise.
NASDAQ:WDFC
by AwesomeAvani
NZDCAD | Hidden Bearish Divergence | BearishAccording to my analysis, the New Zealand dollar against the Canadian dollar (NZDCAD) is expected to experience a bearish trend. This assessment is based on the presence of a Hidden Bearish Divergence on the 1-hour timeframe, which indicates a potential reversal zone. A Hidden Bearish Divergence occurs when the price of an asset forms higher highs, but the corresponding indicator, in this case, NZDCAD, shows lower highs. This discrepancy suggests a potential shift in momentum and often signals an upcoming reversal to the downside. Therefore, considering the presence of Hidden Bearish Divergence on the 1-hour chart of NZDCAD, it suggests that the NZD may weaken against the CAD, indicating a bearish outlook for NZDCAD. However, it's important to remember that technical analysis is not infallible, and other factors such as fundamental analysis and market conditions should also be considered before making any trading decisions.
Short
by awaisulabdeen
EURUSD, stuck in the middle In this video I go over EURUSD from the Monthly, down to the 4hr. Monthly is Bearish Weekly is Bullish but with my favorite Bearish Div Setup. Daily has seen a HH-LL-LH-LL ABCD type formation, all this after my fav setup (Div w/Kijun break) on the weekly... So cautiously Bearish. 4hr shows some downside targets using Ichi Wave Theory, should this divergence play out. As always, good luck, have fun, practice solid risk managment. PS... Last 4hr target is 1.067... not the 1.076 my lysdexic ass stated :wink:
Short
by mrjones2020
BTC Bearish ABCD Setting up to Drop Down Towards $16,741Recently, BTC has been showing promise to begin a macro breakout and run up to over $100,000, but even more recently on the lower timeframes, it's been giving off some bearish signs at a Bearish ABCD PCZ that we could actually go back down to around $16.75k from here before actually beginning the true run up towards the 6 digits. We have made three Consecutive Lower Highs on the RSI and are likely setting up for a Double Bearish Divergence on the MACD; if we come back down to test the levels of 16.7k, that would be the secondary test of the 1.618 Butterfly PCZ to which we could then more confidentially rise from.
INDEX:BTCUSDShort
by RizeSenpai
A reverse Adam-Eve idea PLTR has risen with the earnings and AI mania. It is time for a correction for further upside. The price action has started to develop a reverse Adam-Eve pattern. RSI and OBV show some bearish divergence as well. We may see a correction to 0.236 or 0.382 fib retracement levels. Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
NYSE:PLTRShort
by WhaleGambit
ETHUSDT ASCENDING TRIANGLEI'm sorry but the target does not fit in to the chart. As you can see, the overall situation in the crypto market is not looking very healthy, We have here a very simple setup, we combine: - RSI Bearish divergence. - Uptrend with decreasing volume. - Failure to break major resistance of 2000$. - Bitcoin selling at less than 25000$. And for the previous reasons, I would consider opening a short here with targets 1370$ 890$ and 285$ (high before 2020 market crash). For entering, there is various options, you can enter now or wait for a confirmation like for example, the breakdown of the trend-line and a retest. This trend-line is acting as a strong support so It might take a few days to see a breakout, however, this setup can be wrong, nothing is infallible, no trader wins 100% of the time so please, remember that the first thing is to protect your capital. It's recommended to set a stop loss at 1790$.
Short
by piccard54
2
BITCOIN MAKES CLASSIC DEAD CAT BOUNCEAs you can see in the chart, this is a very simple setup: When we look at the big picture, we have a dead cat bounce breakout retest pattern. As confirmation, we have a clear RSI bearish divergence and a descending triangle, which can be a good entry point. As targets we have the clear support levels and we set an stop loss at the last swing high, so in case the price goes against the position, we protect our capital. Sticking to ideas when proved wrong can be a very expensive mistake. Always be ready to change your mind.
Short
by piccard54
3