Newb posting: Yesterday, opened a long after seeing the long wick red on the 4H. I'm going to be safe and take the gain, but the daily got me thinking otherwise. Thoughts?
Bear RSI Divergence
Sold at 9200, waiting for the bounce back up.
Divergence still present, but massive push up in the last 30 minutes.
Outside of the BB with the BBW turning down.
Charting to reference later on. I decided to short my btc and will wait for an entry with less risk.
Refer to my prior chart, but the daily still has us heading down. The 15min showed a bearish pennant that we have seen so many times this month.
After selling at 9100 due to the divergence, I'm looking at around 8600. If it breaks green line I wouldn't be surprised if it went down sub 8000.
The daily candle is currently trying to close above both downward trendlines. If it does, I would wait to see if we can break $11,800 after the last failure.
If it doesn't break then we're going down.
Price didn't break prior trend lines. Heading back down to complete another H&S pattern.
We may not be in an uptrend yet. Debating when to tether up.
It tried to fight the pattern, but looks like we're heading down more.
Breakout coming? Fib time drawn from end of Wave 5 to A.
Broke the retrace trendline and now on an upward trend.