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Hidden Bullish RSI Divergence

BTCUSD H1 chart (8/20/2019)Good morning, traders. I've been looking for some kind of definiteness in movement but haven't found it this morning. H1 RSI printed a hidden bullish divergence and is in the process of possibly confirming it. Currently, price has printed a local descending broadening wedge with a target of around $10950, possibly printing a double top. I have included the ascending green channel as well because if price moves above the wedge's resistance I will be expecting it to target the ascending channel resistance above the R1 pivot. Price remains above the pivot for the time-being and appears to be printing a rather large descending broadening wedge. H1 Stoch RSI remains in oversold so we should be expecting a move up sooner rather than later, even if it is only to print a double top. If H4 RSI can close above its descending resistance, I will be looking for further upside. For now, it has fallen through its ascending support. The H4 Stoch RSI has dropped out of overbought and has a lot of room to continue falling before hitting oversold. That doesn't mean price MUST fall, but trader should be mindful of price action. If you zoom out to the H4 and larger TFs, you can see the possible $8500 target as well. As I have been mentioning, this movement up could just be wave 4. If so, then that target is in play. Traders that are looking for a larger TF entry should zoom out to the daily and wait for RSI to close above its resistance. Speaking of the daily, price is currently consolidating on the daily pivot. The volume continues to contract during this recent move up suggesting that it is wave 4 or wave B of a possible triangle which I pointed out last week. As we can see, there are multiple possibilities here and most traders entering right now are going to be chopped out. Zoom out to the H4 at least, and look for good entries. Don't just enter because there's a possibility. The time taken to look for an entry actually worth making right now will pay dividends to traders. I will be live at 3 p.m. UTC today on www.youtube.com so come join in! _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
COINBASE:BTCUSD
by Chris_Inks
1
BTCUSDT H4 chart (8/14/2019)Good morning, traders. Overnight, we saw price dip into the blue demand zone that I mentioned we were watching about a week ago. We are also continuing to watch the H4 hidden bullish divergence (red arrows) complete and confirm. H4 is currently printing a TD 9 buy signal with RSI in oversold and Stoch RSI bottomed out. This does not mean that price will bounce right now, but traders should be paying more attention now for such a bounce and possible reversal. Importantly we can note that the supply volume continues to drop off as price has dropped with special interest given to the previous candle which printed a hammer reversal setup with a very small candle spread. In terms of volume and price action, that means we saw supply still coming comparatively strong with that seen two candles prior but getting much less result. As such, we can understand that demand has shown up quite strongly at that area. However, we need to see price follow through with expanding volume and increasing candle spread as price rises to confirm that a reversal is occurring. The intersecting pitchforks paint an interesting picture. Price spent much time on the top half of the descending pitchfork, only recently falling to the lower half. The current H4 candle has been initially rejected at that pitchfork's median. If price can reclaim the topside of that descending median line, then traders can be more bullish. Failure to do so should have traders watching the downside. If you are bullish, then you want the $10000-$10200 range to ultimately hold. The top of the range is the S2 pivot and failure of that range to hold should have traders looking at the likely trip down into the $8000s. While CT and TV are abuzz with "the sky is falling" narratives again, zooming out to the daily we can see that there just hasn't been a whole lot of interest in selling during this latest drop. How do we know? Because volume continues to contract as price has fallen. Daily pivot is support price at this time but the 21 EMA looms just overhead. A strong daily close above that 21 EMA would be bullish. We can also see that daily Stoch RSI is just now tapping oversold while RSI is slightly bearish at 46. I have seen a lot of erroneous EW discussion out there mentioning that because what may be wave 4 has dipped into wave 1, the count is invalidated. That is not necessarily the case as EW recognizes leading and ending diagonals as having overlapping waves 1 and 4. We can see the dashed resistance and support lines printing a possible ascending wedge (leading diagonal) so while traders should be cautious as it may not ultimately play out as a diagonal, the reality is that the wave count isn't necessarily invalidated. Of course, we have to keep in mind that this could be the beginning of the final leg down and the previous 3 waves up were the X wave of a WXY correction. This is something I mentioned over a month ago that traders should keep in mind as a possibility. As an aside, the H6 TF is printing a TD 8 at this time with another 3h15m left in the candle. RSI on the TF is also oversold and, like the H4, Stoch RSI is bottomed out. So it is possible that price could visit the S2 pivot at $10200 before reversing, even if only via a wick. The H1 Stoch RSI is overbought and as always, I'm watching for RSI to close above descending resistance. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
by Chris_Inks
1
UPCOMING BULLISH OUTBREAK FOR BITCOINHi, Happy Friday! So here I am looking at 4HR candles to get a sense of what I can expect bitcoin to do over the weekend. Right now I see a "hidden bullish diverging" pattern is forming quite nicely inside of the pennant. A hidden bullish diverging pattern is characterized by higher lows on the price movement, and lower lows on your indicator. Here I am looking at OBV. As you can see the two are diverging. According to babypips.com (this website is awesome if you're trying to really elevate your TA to the next level), a hidden bullish divergence shows underlying strength and usually peeps its head during retracements of an upward move, of which we have been in for the last week and half. In addition to this, the Bollinger Band is tightening its grasp on BTCUSD and I expect to see price consolidating tightly between 11,900 and 11,700 before continuing the upward move. Thanks and have a great weekend!
BITSTAMP:BTCUSDLong
by StudyingCrypto
1
BTCUSD Clarity on the DailyStill a novice, but my life has been so much better since I stopped using the 5m-3h time frame. Yeah, 5min.... Lessons well learned the hard way. No one I know trades and I work in a polar opposite environment where no one really cares to learn. So I have been teaching myself and have been profitable on some nice trades lately. Here is what I have been going on adding Supports and Resistances as I go. Hell, I didn't even understand divergance til 2 weeks ago, but when I got it helped me catch the 9400-12300 run we just had over the past week. Cashed out at 11850 and at first was like "dammmnnnn left money on the table," but looked at my P&L and not only did I got from Negative, I'm up a solid 6% on the YTD. I know thats not a lot in Crypto land, but its a lot to me! Dare I say a trend change.... Best of Luck To ALL! BSB
COINBASE:BTCUSDLong
by BloodSweatBeers
HQ Setup for #FactomHi friends! Welcome to Poop's wave count analysis on $FCT. If you have missed the November pump, now is your second chance to ride the #FCT Bullish Cycle. The previous uptrend (wave 1) had a very significant volume and the succeeding price correction (wave 2) had a weak volume which gives us the conclusion that we have a bullish trend. We just completed wave 2 and looking to reach wave 3. We just had a perfect bounce at .786 Fib level which has a confluence with a horizontal support and the 200 day moving average. A bullish divergence and a buy signal backs this analysis. Targets: T1- .0025/ 40% T2- .0032/ 80% T3- .0042/ 130% T4- .0050/ 180% T5- .0070/ 300% Note: T1 is our First Trouble Area (FTA). It would be nice if we can book some profits here. T4 and T5 is not a valid target if we fail to break above T3 which is a significant resistance. That's it friends, I looking forward for your comments on this analysis. Enjoy the gains! This is just a guide, not a trading advise. Hit like and follow for more chart updates! Thanks -Your Poop Trader
FLong
by PoopTrader
3
Waves Accumulation ChannelHi friends! Welcome to waves update analysis, among the few coins with huge announcements and had been among the top 5 in volume since it moved first week of December. Waves recently caught my attention printing a very interesting widening mouth pattern that could drive waves higher. Its currently sitting on its 12 EMA with a very nice doji candle close with confluence on a trend support. A bounce at this level will trigger a 2X move. A hidden bullish divergence also supports this price action. 5 waves on a widening mouth channel is a springboard for a big bullish move. It is currently on its 4th wave in the channel. If it does completes the 5 waves on the channel, waves will likely print new highs after a correction. This is just a guide, not a trading advise. Hit like and follow for more chart updates! Thanks -Your Bullish Poop Trader
Long
by PoopTrader
7
"LONG" USD Falling Wedge Pattern!!I believe we are in a falling wedge pattern which could potentially take us to 6.42 and coincides with the fib retracement( GOLDEN POCKET) between 0.618 and 0.65, the 200MA marks the end of the wedge and could be considered as strong support for this move upwards. Also there is strong hidden bullish divergence on MACD & RSI ... - Ofcourse we must not disregard a few negatives which are that we have just had a death cross with the 50MA crossing the 100MA downwards. I would love to hear your thoughts about this analysis, as i am always trying to learn and gain experince using different techniques!! I am not trading this Trade nor do i advise on using it, this is purely educational purpose only. Thank you.
Long
by CannonMohamed
EURGBP Sell IdeaH4 - Price reached the critical zone and moved lower, bearish divergence. We may now expect one more push higher with the price reaching the critical zone again, we may then start looking for sells with bearish evidences. H1 - Hidden bullish divergence. One more push higher is very likely to happen in the short run before the move down. Invalidation: If the price moves higher, breaks and holds above the H4 down trend line with momentum then this setup will be invalidated.
Short
by VladimirRibakov
XLM is showing Hidden Bullish Divergence.XLM/BTC is show-casing hidden bullish divergence on the 4-hour RSI and CMF. I expect the Stochastic to start showing it soon as well. As the price has made a Higher-Low, the Indicators have made Lower-Low's. I made a previous analysis on XLM stating to short from 3915 and reenter at 3730, and that has played out to near perfection. We are currently hovering around the .5 fib level, and it looks as if we will be making a move to the upside soon. Liking the risk/reward on this trade. Do keep an eye on Bitcoin and its price movements, as for it can have a major impact on alt-coins and their movements. Entry: 3730-3770 Target 1: 3910 Target 2: 4130 Target 3: 4490 SL: 3600-3680 (depending on risk/exposure level.) --This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility .
Long
by Deftsuo
2
OCN/BTC showing hidden bullish divergence. OCN/BTC is showing some hidden bullish divergence on the 4-hour RSI and CMF. As you can see by the white trend lines, we made a higher low with the price, but a lower-low with the indicators, show-casing classic hidden bullish divergence. We are already seeing the price start to move to the upside. Liking the way this trade looks so far. Do keep an eye on Bitcoin and its price movements, since it can have a major influence on alt-coins. Entry: 175-180 Target 1: 185 Target 2: 195 Target 3: 205 SL: 168-173 depending on risk level. --This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.
O
by Deftsuo
1
Break out - Ascending triangle and bullish divergence part 2Bitcoin back in the game! Following on from my previous chart, BTC had fallen out of the ascending triangle and was consolidating at around 0.5 fib $6475. The 4 hr candle broke above and then opened back inside the ascending triangle after finding support and the hidden bullish divergence on the RSI is still in play. We have 2 trend lines acting as strong resistance, the purple trend line which connects the peaks on 24 July, 4 September and 28 September and the orange trend line connecting the peaks on 05 May and 24 July. Once we break through these 2 trend lines and above the bullish ascending triangle around $6800, we should have enough momentum to break the previous $6839 high set on 22 September and price should reach $7037 at 1.272 fib using Fibonacci retracement with a possible extension to 1.424 fib at $7140. Bitfinex being the most bullish exchange is conducting a 2 hour maintenance today so set alerts and take precaution. Happy trading and good luck! Previous analysis:
Long
by Corn_Reaper