As is stated in the title, I spotted a bearish divergence on Wanchain's 4Hr chart.
Fib retracement has 1825 satoshis high from 31st of October of 2018 and 737 satoshis low of 6th of February of 2019.
Chart shows higher highs on price chart, but lower highs in RSI and Chaikin Monew Flow indicators. Coupled with this bearish divergence, we haven't had...
Tittle explains it. If today's candlestick doesn't close above the flag, we are set for a revisit of the .382 fib (7.8k). That's a good buy zone for short-term trading, but we would have to wait and see the strength of the bounce from there in order to have better understanding of whether we go bullish or bearish (the latter scenario would imply going to the...
Be careful, wait for confirmation.
My advice would be to buy after the .236 fib retracement. Bears have lost strength these last couple of days, so let's see what happens, as Chaikin tells us we're in the buying zone.
PD: Have fun trading and this is educational only.
Wanchain has been on a steady decline since the 2nd of May high after its listing on Huobi. After Bitcoin's last little dump (from 8.8k to 8.3k), prices have gone down and are "dangerously" approaching our end of the triangle.
Chart is self-explanatory, though: 1hr chart shows a bullish divergence in our Chaikin Oscillator, Momentum and RSI. Chaikin and...
Spotted a possible Falling Wedge on the 4hr chart. As you can see, range is tightening. RSI shows bullish divergence, Stochastic is oversold, and OBV also backs up this narrative.
Selling pressure has been losing strength, even though the bears seem so sure of their 7.2 and 6k predictions.
Entry: 8344-8177
1st obj: 8686
2nd obj: 8851
3rd obj: 9176
Stop loss:...
A lil' bit bored today and noticed this possible breakout from our pennant. I'm expecting it to retest the trend line, so let's wait! This is pretty risky, as we are in some-sort-of-a bearish trend in the short term, but bulls seem to want to give a fight, so let's go.
Entry: 8443-8480
First Objective: 8653
Second Objective: 8771
Third Objective: 8869
Stop Loss: 8410
Spotted a possible reversal for this bleeding downtrend in the short term. As you can see, we've got a bullish divergence, indicating higher lows in our RSI and Stoch, and lower lows in our price. Also, we have a Falling Wedge and are very close to the .5 fib retracement, just in case we go a little bit more downwards. In orange I've drawn a trendline from the...
What an interesting day it has been today! Bulls have been unable to give us some green and next 4hr candle might be very relevant, if you pay a close look to this analysis.
RSI is at its lowest since the 30th of March, so we might expect some buy action in this 4hr candle, since it is extremely oversold.
If that does happen, we may see it try to test the 0.382...
