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.
Trade closed: target reached:
TP @ 48'349.89$ reached. Divergences still in play.
TP @ 48'349.89$ reached. Divergences still in play.
Comment:
The previous mentioned Divergences are invalidated, but it turns out, that a new one has come along.
The previous mentioned Divergences are invalidated, but it turns out, that a new one has come along.
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.