Bitcoin is maybe forming a Hidden Bullish Divergence on the 4 Hourly Chart. For the Divergence to "confirm" the Price needs to stabilize on the Levels it is by now.
A further breakdown could also lead to an Exaggerated Divergence. For this to happen, the Price of Bitcoin would need to dip to 48'025$ but not below and the RSI should still move downwards. A break below 48'025$ would invalidate the Divergences.
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This Analysis is not intended to be investment advice. Always DYOR.
A further breakdown could also lead to an Exaggerated Divergence. For this to happen, the Price of Bitcoin would need to dip to 48'025$ but not below and the RSI should still move downwards. A break below 48'025$ would invalidate the Divergences.
If you like my Content, hit the 👍 and make sure to follow.
This Analysis is not intended to be investment advice. Always DYOR.
Note
Possible "Double Top" (M pattern) breakout. I don't like the Pattern at all to be honest since it's not a clear one. But if the Target would be reached it could align with the Exaggerated Div. Be careful.
Trade closed: target reached
TP @ 48'349.89$ reached. Divergences still in play.
Note
The previous mentioned Divergences are invalidated, but it turns out, that a new one has come along.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Web:
UNDER C.
Follow me on Twitter:
twitter.com/blauersamt_
UNDER C.
Follow me on Twitter:
twitter.com/blauersamt_
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.