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Rsidivergence

Bitcoin's mid-term analysis you should considerHere I present my POV on Bitcoin's mid-tem action with a confluence of bearish signals seen on the daily chart. Even though Bitcoin is showing an impressive bullish strenght, it is also leaving some negative traces behind. Let's take a look at the potential worrying aspects: Rising wedge formation (magenta dashed lines): this pattern has a 60% probability of a downward breakout, according to Bulkowski Volume trending downwards (indicated by the orange arrow): this trend reinforces the wedge pattern; we should expect a big move soon Elliott wave (green wave): this impulse wave is usually followed by an ABC corrective wave Bearish divergence (magenta lines): the price is forming a strong bearish divergence on the RSI since the beginning of the the rising wedge Extreme greed : this Bitcoin's bull cycle has shown a lot of greed and FOMO, much more than previous cycles, as seen by the very agressive inclination on bigger time frame charts Stimulus checks : even though the fact that many people is putting their $1400 stimulus in Bitcoin is good, this is also very attractive for whales looking for huge liquidations any time soon These multiple confluences should make you - at least - reconsider any overbullish prediction for the following weeks regarding Bitcoin. I'm not saying a correction here would mean the bull cycle is over, I think we're far from that, but corrections are healthy for a bigger price development and we have not seen many along the way so far. >> However, I don't think the breakout would occur right now. Considering Dollar's inflation with all the bad decisions coming from the FED, I believe we would reach new highs before that, probably touching the upper line of the wedge once more, setting a new ATH @ ~70k, and then starting the potential greater correction of this bullrun. If it happens, the probable worst case scenario is already on the chart, being the lowest low of the wedge, around 31k, supported by the VPVR. But if we actually end up breaking the wedge downwards, I'll update this idea with the possible targets and support levels we may reach.
BITSTAMP:BTCUSD
by B4Baggio
11
GRT/USDT bullish breakout possibleGRT/USDT pair has formed a large symmetrical triangle. The triangle has been formed in more than 30 days so the pattern looks reliable The breakout looks plausible because the ATR has also dropped to a major support level Additionally an RSI divergence can be spotted with increasing RSI while there is no change in price. This indicates a bullish breakout. Note that the build-up is nicely supported by the 200 EMA Before buying, confirm the breakout using bullish patterns or trade the first pullback
Long
by kipawa
5
USDJPY-Weekly Market Analysis-Mar21,Wk4Trendlines are amazing, there are many ways you can use them, for this instance I'm waiting for a shorting opportunity when the candle touches the red line but not closing above it. When it hit the middle trendline, I'm going to shift my stop-loss to entry and once it reaches the bottom trendline, as long as it closes below the trendline, I'm going to keep the trade, if it doesn't, I'm going to exit my shorting trade and turn it to a buying trade.
Short
by RaynLim
$SXP Primed to Challenge All Time HighThere is a lot going on with this chart, and it all looks bullish. First, had a perfect retrace to the .618 fib after the crazy run to start the year. $SXP bounced well from that area and challenged the local high of the $3.80 range. We have retraced and bounced off of support in the $2.75 range. It appears that we are forming a nice cup and handle pattern here. On top of all the above, there is a bullish divergence on the RSI along with a breakout. The 4h MACD is also turning bullish. This is all pointing to a serious price increase. If we break out from this handle, we should see the $3.75-$3.80 price again. The two diagonal lines at the top of the chart are resistance from previous all time high (Wick and close). If we can close above that, I fully anticipate a $5.00 $SXP.
Long
by ParCrypto
3