Looking at ETH on the daily (note the oscillator is MFI). First off, last time we were this oversold on volume was July and before that April - in both instances momentum flipped to the upside and price rallied over 100% before reaching a local top. Obviously things get overbought and oversold often, but when oversold at a support zone (purple lines), especially...
BTC now showing some solid bullish divergence since the beginning of this latest price move on the hourly. Both RSI and Chaikin Oscillator are climbing but not into overbought zones, feels comfortable. We also just breached the A/D line for the first time in this move (yellow highlight) implying bulls are accumulating and vying to retake control. This all comes in...
Obvious bear flag forming on the 1H chart for BTC with declining volume. Right after breaking through local support on high volume - confirmed breakout downward. Expecting another incoming dump to the high activity support zone of $53-54K, followed by resumption of uptrend while bouncing off the daily log trendline we've tracked this entire bull run.
BTC is showing bearish divergence with low volume on the daily chart. Each time this has happened during the 2020-21 bull run we see a pullback to the long-term log uptrend line. Implied short-term PT is at $53K support zone, assuming that holds we will then resume the move upwards.
