Coolheadcoolmind

Coolheadcoolmind

Clear bullish hidden divergence (lower highs on price, but higher highs on RSI) indicating further downside incoming. Moreover, there is a clear trend line on the RSI (30 mins) -- forming at each of the peaks that indicate we are at another peak at the moment. Short if you want to; but whatever you do, do not go long! Hang in there guys!

Coolheadcoolmind

For all those asking if this is the bottom; the answer is likely no. There is clear hidden divergence (higher high on indicator whilst higher low on price, in a downtrend) which is bearish. This is the point at which the bulls are putting up resistance, as can be seen from the preceding long wicks that bulls have managed to push back up. However, at some point...

Coolheadcoolmind

Most people should understand the idea of bullish divergence (lower low price but higher low RSI), which predicted the bounce up tonight. However, to prevent a fake out, always remember that bullish divergence carries more weight coming into an established area of resistance, which is present in this case. The ralley upwards has only just started, so I'm...