Rsi_divergence
Road to $16.500 of BitcoinEven though we are already in a falling channel, we are about to complete the clearly ascending wedge formation.
We are currently receiving rejection from the 200 hour exponential moving average and have tested the upper band of our ascending channel 4 times, the next test will probably be the lower band which has just been touched once.
Considering the Stochastic Relative Strength Index, the decline seems inevitable.
Long term buy on GBPUSDGBPUSD is trending on a solid support, on the weekly chart, we will search for buy setups using Elliot Waves, Fib extensions (from many points of view) and Fib retracements.
We will also discuss the emotions of traders, where the sellers could start getting exhausted, and taking their profits so we can see the market bouncing.
Divergence comes at the end to confirm my trade.
Be careful, long-term trading needs a serious risk management, the stop loss is never close.
Don't consider the buy order at the end of the video, the recording run out of time and i couldn't explain the entry precisely.
This video is in Arabic language (Lebanese), I can start making english videos if you traders on tradingview are interested in my ideas.
Thankyou,
Joe
BTC is oversold. We are going to see BOUNCE BACK soon!!!Hello Everyone,
I was trying to make an analysis for possible bounce from last 1 week but was not able to get any glimpse on it. But, Today, after 1D candle closing, i see something which is saying few things.
*We are experiencing strong drop over the last few weeks. We can clearly see Bitcoin is now oversold levels. Daily and as well as in Weekly. we are looking at such low value of RSI after very long time.
* RSI value in 1W chart is 12.56. (Just check the chart to see RSI value. When was this number last seen?)
*As we can see on the chart that Bitcoin is trying to make support by sideways consolidation pattern in 4H and 1H timeframe. In 1D and 1W, BTC is oversold. We may see a little pump soon. But, aware!!! we are not out of bear market. I am expecting more downwards trend in upcoming days and we may touch the level of 16K.
*This is a short analysis for BTC which is showing a smart bounce very soon. Also, today is Saturday and we are closing 1W candle soon which is testing 250MA support . so bounce is expected.
Kindly manage your risk accordingly and never forget to put stop-loss while trading. Its really important in such bear market. HAPPY TRADING!!!
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BTC Swing analyzehello friends.
hope u are good.
you can see in my chart that maybe we are in 4th wave
and we can grow till 50% retracement level (or maybe 38.2 or 61.8)
and after that we can fall.
also we can see the RSI trendline breaked up and it can be the buy signal.
we see a divergence between RSI and price that i show it in my chart with
orange circles.
we see the stoch momentum in oversold area.
hope u enjoy my analyze.if you like it plz support me.thanks
(this is not trading advise and you must trade in your own starategy friends.)