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BTC bullish divergence from a bull flag in a bearish channelThe next few hours/days look to be a potential "break or bounce" moment for bitcoin. After the recent lows from January, a precipitous channel had formed and was broken upward (light-blue dashed lines) forming what looks to be a bearish channel for which the price current is dancing along the bottom (solid white lines). What is interesting is that bullish divergence has formed for both RSI and the MACD histogram (dashed white lines) in what looks to be a short-term bull flag (dotted white lines on price). As a result, there is a possibility of a bounce here potentially toward the 50% Fibonacci retracement level toward the top of the channel (near 50K). However, should price buckle here, there is a chance that the price could continue to fall down, even to near 32-33K (recent bottoms & Fibs) and potentially even 27-28K (the longer-term 61.8% Fibonacci from the 2020 Covid drop) and beyond (i.e., 16-20K due to 78.6% Fibs). Looking at ALTs, there is a common trend of bullish divergence, but additionally quite a few ALTs still have some room to continue downward before a bounce back upward. I should warn that ALTs typically will follow the price of BTC, and BTC typically follows the trend of the general market, which has not been looking good as of late, but should any of the ALTs form a more definitive trend, I will post about them as well. But as always, this is solely my opinion and is not in any way meant as financial advice. But please like or comment if you agree or have any further opinions.
COINBASE:BTCUSD
by crypto_trends
BTC: STILL INSIDE THE FALLING WEDGE! WAITING FOR A BREAKOUT!!Hello everyone, if you like the idea, do not forget to support with a like and follow. Welcome to this BTC /USDT 4hr update. In my previous BTC update I clearly told you that if BTC does not break the falling wedge then we can see $37.8k soon (Link given below do check it out). BTC made a new recent low of around $37,400. Currently, it is once again reached the lower trendline of the wedge and bouncing from there. Also, RSI is printing a bullish divergence. Let's see in this bounce we will be able to break this falling wedge or not? Break this falling wedge will bring a new positive rally towards $44k-$45k in the market. Invalidation level:- Close below $36.8k What do you think about this? Do you think we will see a good bounce from here or do you think that we see more dump? Share your views in the comment section. If you like this idea then do support it with like and follow. Thank You!
Long
by CoreCrypto1
2
Mild Bullish Divergence in LGDTFI don't know if anyone actually trades this, but I've been holding some bags on this piece of crap for a couple of years (don't ask) and check in on it from time to time. It's been trading in a decent range for the past 6 months (give or take) and recently put in a new low at $0.66, creating a very mild Bullish Divergence. Its Correlation Coefficient to gold is currently near 0, but historically oscillates closer to 1 (as you'd probably guess). This is not a prediction, and certainly not a trade recommendation, but if inflation keeps running hot and gold advances over the coming months, maybe this can catch a bid and head back up near $1 or higher. Alternatively, if there's follow through with the selling, I'd guess it will be trading sub $0.50 in short order. Take all this with a massive grain of salt, and proceed with caution.
OTC:LGDTFLong
by InnerMotionTrading
5
Possible Double-Bottom on Bitcoin/USD and Bullish Divergence RSIIn addition to this, we have confirmed bullish divergence on the RSI. I am not a fan of the double-bottom pattern, but combined with the RSI bullish divergence, I would say that buying a little more at these levels wouldn't hurt. Not sure I'd be using leverage, and I'm not doing this for a while, but for basic b*tch DCA crowd, this is good enough provided you save some dry powder just in case we test lower this week.
COINBASE:BTCUSDLong
by JJMa
EURUSD... Ready to LongFX:EURUSD The chart is well explanatory on its own, let me just clarify to prevent confusion and uncertainty Denoted Terms: 1. Key support level (Lower rectangle) 2. Entry level :- Horizontal green line 3. Near resistance/support (Upper rectangle) 4. Take profit levels:- Horizontal blue and purple line The indicator used :- Relative Strength Index (RSI) 1. From the indicator+chart analysis, there is a bullish divergence there, which clearly we can see its sitting on the key support level 2. Dynamic Support and Resistance (EMAs):- There is a tendency the 10 (yellow color) & 20-PERIOD (blue colour) EMAs become dynamic support after a close price on the entry level i denoted, followed by a confirmaton candle Also on 4hr timeframe, trading 50% fibonacci retracement, see that below Trade Setup Trade Type : Buy Entry : 1.17550 - 1.17650 T.p 1 :- 1.18465 (91 pip in profit) T.p 2 :- 1.19060 (150 pips in profit) Stop loss price :- 1.16930 (62 pips in loss) RRR :- 1 : 2.5 Like and comment what you think on this... Let's trade and win together. Happy trading CryptoKings!!!
Long
by Skuchies_CryptoKing
1
Gold Misleading RSI Bullish DivergenceGood day guys! It has been a few days since my previous post. Those who follow me know that I am a long term trader, so when I enter a position, I look to hold that position for days at a time. On the chart, I wanted to show you what I found in common with all these positions I entered into as the trends continues downward. There appears to be price action rejecting the trend line/zone, an aggressive move to the downside with price action making lower lows and RSI making higher lows. This brings forth a small rally or price action ranging a bit before continuing to the downside. I am a probabilities and statistics nut, so I do not see why the odds are not highly likely to provide the same outcome. If you notice, price action is slumping over, which is bearish. I teach this in my advance teachings. Gold will have its run to new highs. However, based on the fundamental and fears of rising interest rates, I do not believe that time has come. In other words, "it is too soon." To gain access every time I send out an update, be sure to follow for my technical and fundamental analysis from tradingview.com . Well we do appreciate you for checking out our post and remember, we will see you on the other side. Rodrick Goss (CEO) Third Eye Traders
OANDA:XAUUSDShort
by ThirdEyeTraders
BTC new wedge or new channels?Bitcoin looks to have surprised a few today as it looks to have potentially bounced off of the trend support I mentioned recently. I have recently changed back to the linear chart and what I find interesting is we are back in a potential wedge again (solid red and green lines). I feel like this is the movie "Jurassic Park" where the boy yells "we're back in the car again" after seeing a potential wedge form after the previous one dragged out for weeks. I should also note: I am the one who grumbles after seeing the wedge, the boy in the movie saw dinosaurs for anyone who hasn't seen the movie; although it is debatable which is worse since dinosaurs did not have cryptocurrency (at least none that we know of) despite it easily being a possible reason for their extinction (possibly due to energy consumption and global warming?). Anyway, there are quite a few possibilities right now, but the ones I find interesting are the potential channels that could form with either a bullish channel (green lines) to potentially bounce near 47K (near some Fibonacci resistance) or a bearish channel (red lines) potentially leading to near 20K (also near some strong Fibonacci support). What is interesting is RSI seems to indicate support for either possibility with bullish reversal divergence (green line on RSI) but also bearish hidden divergence (red line on RSI). I for one typically think that "regular divergence trumps hidden divergence" similar to how "paper beats rock", but as my older siblings have taught me "that's silly, how can a piece of paper beat a rock? don't get your hopes up!", so this very well could be a coin flip still in my opinion until a breakout occurs. Either way, it looks like there are some more entertaining roads ahead over the next few weeks/months compared to the last few weeks (at least one would hope). And of course, this is not meant as financial advice but is only my opinion. But please like or comment if you agree of have any opinions as well!
BINANCE:BTCUSD
by crypto_trends
BTC Trend ReversalBTC is repeating a pattern from the middle of April. That pattern is a Bullish Divergence (which you can read about here ) Since the last time this pattern occurred, BTC remained in a small uptrend for about 16 days. Is now the the reversal that is going to start the inevitable run to 100k for BTC? Who knows. But it does look like BTC can at least bounce back up 17% into the high 50,000s and possibly to 60k. Please comment, like, and follow for more! Trade at your own risk
Long
by zsamochin
10
ETH/BTC it's time to long the dipBullish divergence is one of my favourite indicators with great hit rate. As you can see on the chart, there is a forming and likely confirmed bullish divergence on 4H timeframe. It's also important to note that the current candle (circled in black) is a hammer so it enforces the hypothesis of an up coming reversal. You can take a shot at candle close or wait a little bit for a break and retest of 0.0263 level. Stop loss should be lightly below the recent swing low so it's a good R/R Note : if you like this content, don't forget to give it a like and follow me for upcoming analysis.
Long
by RektHodler
1
Buy the dips !!!Since my last analysis here , LINKUSDT has made a great move. However in LINKBTC pair, I believe that the party has not started yet. As you can see on the chart, there will be likely a bullish divergence (blue arrows) on 1D timeframe. The last time this pattern formed on this pair (green arrows), it had made 20% in 3 days. I believe that if the it can break the descending trend line with decent volume, it will go at least to the red zone around 100000 SATs. The Fibonacci levels also indicate targets. This is a good R/R shot to make. You can let it go easily if it closed below the swing low around 64000 SATS Note: if you like this content, don't forget to give it a like and follow me for upcoming analysis.
Long
by RektHodler
1
LinkBTC Thoughts - LongJust the thoughts of an eternal optimist trying to learn... To me, looking at the daily chart it looks like we have a bullish divergence. With Bitcoin on the rampage I wouldn't be surprised if we did drop a little bit more from here before rising again. I've seen many charts with people expecting 30, 40, 70 dollars by EOY. If we can reach previous ATH before EOY with Bitcoin at current level (17k ish) we'd be looking at approximately $28 dollars per Link. Zoomed out, I'm also wondering if this could be impulse wave 3 on an upward trend? Anyway, I'm interested to hear other peoples thoughts. Any critique/advice is also welcome as I am interested in learning more. Thanks frens
Long
by Huffy84
Bitcoin Likes False BreakoutsCOINBASE:BTCUSD likes to confuse traders with its price action. In the green circles, we can see the support break twice before the price shot up to resistance. Once price broke resistance, Bitcoin came down to the support zone and bounced off like a textbook triangle breakout. However, The support zone broke which makes it resistance again. Right now we can see the price falling through support again. On the 15 min chart, we can spot a bullish divergence on the rsi so it likely the price will bounce off the support area again. As of now, it is unclear whether or not the price is bullish or bearish because of the many false breakouts Bitcoin likes to make. Right now im 55% bullish because of the divergence on the 15 min chart and 45% bearish. We switch from bullish to neutral for this moment. When the price goes up again to the green support/resistance zone, I will switch back to being bullish. However if the price keeps falling, We have to switch to being bearish at least for the short term.
COINBASE:BTCUSD
by VinanceYT