Alteroc
Short

BTC 4h bearish divergence + resistance = short

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear all,

I try to remember the hardest Lesson everyday "On green days you look for a sell and on red for a buy".
We had a good series of green...

Here we had a really interesting rally. Compared to other analysis, I don't think we've breached resistance but that we actually touched them.
In case of bullish div at resistance I would go long above. However here we have resistance + bearish divergence = short.

I based targets on previous BTC price action. Last big jump where a bearish divergence finally occured had a 61.8% retracement which in that case here would bring us around $6,700 at max.
That's the highest target of course.


All the Best from the Crypto Space
Alteroc


Not a Financial advise, be a better trader tomorrow than you are today by DYOR
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Trade active: Confirmed by MACD
Comment: Another view for people who want wicks included on the fib level:
Comment: The RSI does not update on clicking play but this last move created another bearish div on RSI. This smaller one could be the trigger.
Comment: Here is a view published from this daily closing:
Trade closed: stop reached: Indeed stop reached trade close even tho the bearish div is still here
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Comments

how long do you usually spend looking at a chart of a specific pair, on average?
+1 Reply
Alteroc retlaw
@retlaw, I do that part time so quite a lot. Now I'm focusing only on BTC. The rest will be looked at when we correct to find the best entries for alts
+1 Reply
trade failed. btc breached 8000
Reply
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