BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
at the end of ABC Correction, touched MA 200, touched support level .

if we zoom into 4H chart, there's potential bullish divergence formed. Bounce now or die! because if this level is not held, weak hands will bring it down lower to sub 6K or even 5400.

Comment: Potential Bullish Divergence.

Comment: wait for clear reversal confirmation. better late than sorry
Comment: don't panic, either to sell or buy. RSI signalling divergence, but it's not bullish yet. BTFD is not for regular trader like many of us.

If you want action, start buying small. keep your stop loss tight
Comment: market choose to die instead of bounce.. so we are in open short position still. Next support line is 5400
Comment: we have confirmed divergence at 2H



I made small entry
Comment: we need to break 8400 level for more reliable reversal
Comment: 4H chart quite bullish...



but... need confirmation on divergence. I'll add more into my bag when it's confirmed reversal
Comment: otherwise, I'm ready more dump anyway
Comment: My bearish sentiment because of this


we have plenty room before daily RSI oversold. I use 20 as lower band in RSI, because we are in strong trend. This is just like when we were in strong bull trend, you will always have overbought rsi if you use 70. it will be different if using 80.

current daily candle is basically floating above 5400 support, unless we can make new support in next few days
Comment:

reversal confirmed at tf 4H.

so.. if you follow this TA, you should've add your long more than twice, in every retracements. if so, you need to calculate cost average.


one more thing we need wait before completely sure out from bear market... I'll post in next comment
Comment:

potential HIDDEN BEARISH DIVERGENCE.

if we fail to break out from blue box, bearish divergence is validated. a lot of traders also preparing their short at that level. unless there's enough fomo, I think there's huge potential bearish divergence will occurs. Means more down lower than 6000. Meanwhile, I'll my longs until market signalled otherwise
Comment: I'm afraid Hidden Bearish Divergence is now getting real as the price pulling back from resistance...




brace yourself
Comment:

at the same time, market is signalling HIDDEN BULLISH DIVERGENCE. what a mixed signals we got here..
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