Short and Sweet, RSI shows classical Bearish divergence now that the Weekly candle has closed. on the classical RSI Indicator
Don't get excited yet... if BTC ignores... a weekly confirmed bearish divergence like this, You should be using My chart as a reference because basically BTC is clearly communicating that it's become a Giant bull flag with perfect confluence with the volume wells above us and the lack of historical structure as well as Harmonic effects from the trading behaviors of the public to make this outcome occur. 60k is absolutely an immanent Target if this Bearish Divergence fails with weekly impulses to the upside.
Let's say the bearish divergence occurs around a respectable value within what's left of this ascending triangle. Well, it could just be one of these three things.
1. Small correction before completing a Bull flag to 60k while giving some traders a chance to get in at a smaller lower price ultimately going up.
2. A catalyst for a lower push under the triangle which still can be transformed as a false breakout- see the price action to read in on that if and when that occurs.
3. A catalyst for a macro retest getting close or roughly close to the 200ma on the weekly which will be way more pulled up than it is right now due to the time and distribution of the price action going down in theory. I'm thinking 34k Max would be the New macro local Buy zone.
4.- This one is not like the rest. Fake-outs go both ways... usually, you can't complain much when you have no signals and BTC does a fake-out of the upside before going to do any sort of resting of lower levels. In this case, we have something decent hear, I would personally find it bizarre to be honest if it would ignore this, and also fake out close to the signal. - So i am kind of biased in terms of the conditional outcomes.
Anyway, Enjoy.
Don't get excited yet... if BTC ignores... a weekly confirmed bearish divergence like this, You should be using My chart as a reference because basically BTC is clearly communicating that it's become a Giant bull flag with perfect confluence with the volume wells above us and the lack of historical structure as well as Harmonic effects from the trading behaviors of the public to make this outcome occur. 60k is absolutely an immanent Target if this Bearish Divergence fails with weekly impulses to the upside.
Let's say the bearish divergence occurs around a respectable value within what's left of this ascending triangle. Well, it could just be one of these three things.
1. Small correction before completing a Bull flag to 60k while giving some traders a chance to get in at a smaller lower price ultimately going up.
2. A catalyst for a lower push under the triangle which still can be transformed as a false breakout- see the price action to read in on that if and when that occurs.
3. A catalyst for a macro retest getting close or roughly close to the 200ma on the weekly which will be way more pulled up than it is right now due to the time and distribution of the price action going down in theory. I'm thinking 34k Max would be the New macro local Buy zone.
4.- This one is not like the rest. Fake-outs go both ways... usually, you can't complain much when you have no signals and BTC does a fake-out of the upside before going to do any sort of resting of lower levels. In this case, we have something decent hear, I would personally find it bizarre to be honest if it would ignore this, and also fake out close to the signal. - So i am kind of biased in terms of the conditional outcomes.
Anyway, Enjoy.
Comment:
So... interesting rejection on the daily, now this candle is not closed yet, there is a lot of wiggle room in terms of time but, if this closes based of the rally, this would be a ideal candle stick pattern for a short despite the "Bart Simpson" shaped rejection on the smaller timeframe that has already occurred. I know some people are going "well the rejection already happened" making people think "oh well I'm late.." I mean maybe, or it's the start of the trend. If we get this Tweezer top like formation on the daily I would expect more daily candles 1-3 max to the down side. Now what does that mean for us on the weekly well, right now we seem to have a Green doji on the weekly but, if we head lower it could mean a Bearish Hammer like candle on the weekly which is great because it's after a rally, best case scenario an engulfing candle to the down side, now that's bound to start some trouble for the intraday bulls. Anyway, keep in mind, they could also form a zipper where the price just gets sent back up exactly where we were creating a confirmed level/range which a distinct size and may turn into another flag to the upside or... a formation of indecision to shake the bears or bulls for the final say of the immediate 4hr-24hr trend.
Comment:
Aight well, This is it, either...
1. BTC Keeps going to you know where..
2. Does a small bounces above the head of the triangle and then keep going.
3. The bears pull off a miraculous fake-out, I say miraculous because the bears have been getting destroyed... for 1 1/2 weeks, level after level... and at this price zone. Volatility due to the volume wells is to high for me to do macro analysis, maybe micro sure but, I'm cleaning my hands from anything else. Good Luck bois n girls.
1. BTC Keeps going to you know where..
2. Does a small bounces above the head of the triangle and then keep going.
3. The bears pull off a miraculous fake-out, I say miraculous because the bears have been getting destroyed... for 1 1/2 weeks, level after level... and at this price zone. Volatility due to the volume wells is to high for me to do macro analysis, maybe micro sure but, I'm cleaning my hands from anything else. Good Luck bois n girls.
Comment:
This is BTC/USD before destroying 20k.. because it went so high there was barely any horizontal or angled resistance to suggest any bearish phycology, not to mention liquidated shorts.. and spot stop losses. The less structure the less gravity (So to speak).
The point of this update is to show the same scenario on a different time zone.
This is on the weekly, the next chart is BTC now on the daily. (So keep in mind that but also keep in mind... the structure and % moves are different then they were today so BTC moves way bigger price movements now then before.
Here is BTC Now, something here seems similar don't it? Such a delicate zone... volatility increasing... I don't know. I figure something similar is going on on just a relatively smaller scale, idk I could be wrong, I'm ready to be wrong.. it is what it is, just wanted to share that based off the price action I was seeing these days.
The point of this update is to show the same scenario on a different time zone.
This is on the weekly, the next chart is BTC now on the daily. (So keep in mind that but also keep in mind... the structure and % moves are different then they were today so BTC moves way bigger price movements now then before.
Comment:
Well here is what the daily is currently like in comparison of what could have happened and.. idk about you but, That's pretty dang close, Makes me think what the next couple candles are going to look like.
This and the most amazing signal (Early still sorry non-confirmed) signal of the A13 my most prized possession. It simply indicates Volatility will pick up aggressively. This signal is on the Weekly so I'm excited to get a hold of slightly smaller timeframe insights to get directional narrative especially for any swing trading going around. While this is not confirmed because the candle needs to close, the reason Why I believe this is legit, is 1. the time and place and price we are at. This is likely happening due to the volume wells in proximity and the sort of "squeeze" we are in, even at these levels. It's no wonder it's flashing us in the face even at this time. This truly the make or break on the weekly. Not to mention price action has to meet very specific requirements to manifest this signal so even by chance it's gone, it's ghost of it's original call is still in play for sure. This I am confident in.
My question is will it go higher as aggressively as the pictures in reference to the weekly in 2020 but, on the daily in this case, in terms of fractal-like scale to to speak. Anyway I just had to share that.
My question is will it go higher as aggressively as the pictures in reference to the weekly in 2020 but, on the daily in this case, in terms of fractal-like scale to to speak. Anyway I just had to share that.