Hello dear followers,traders and newcomers nor bulls and bears.
In this TA I would like to show you mid/long term follow up of bear / bull divergences as well as share a opinion on current local bottom because of many factors and indicators
You can see Bear div at the ATH (Indicators going down in overbought area & price going still up) NOW we can see Bull div near very strong support (Indicators going up in oversold area & price still down)
I also tried to copy the fractal from the run up and reversed it and seems this could be the range where algos can switch
** This is not financial advice, so always trade on your own risk and do your own research first before putting your money in and risking them **
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Ad. 1 Almost every single indicator is showing bull divergence in this range
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Bitcoin shorts also showing some weakness. They had bull divergence at Bitcoins ATH in Nov-Dec 2018 .. Now they are showing bear divergence (Mean shorts should be closing and time to open longs)
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The question is not "Is the reversal comming ?" the qustion is more like "When is the reversal comming?"
This is so far highly speculative and I will keep you informed about it but in my opinion this is very likely scenario.
Inverted H&S could be forming now and whole sub 4K range is just a bear trap for shorts before trend reversal. The more shorts bears open the bigger the bitcoin bounce. So market need people to believe it is crashing so dumb money will ad shorts now to be rekt (Same kamikadze as longing bitcoin at 19K range)
If the inverted H&S will play out and shorts will be squeezed we could get interesting closing of monthly candle which is very important for mooving averages
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Even the Tether (USDT) looks weak agains BTC here
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View on long term / cycles
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Some of you asked me if the inv H&S is still valid so here is update. I still see it valid. Added EW and the head made possible double bottom
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Updated vizualization of this TA to make it easier for you to understand the divergences and the RSI - Sell when bear div forms in high RSI (Relative strength index) and buy when low RSI or for higher success rate when bull div form in oversold area
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USDT allready crossing down agains BTC
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Shorts also hammered
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First massive shorts closing happend exactly on the line of bear divergence as expected.
I´ve just realised that this huge bull div is even bigger and is extended since Feb 2018 ( Pink line )
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I´ve added same fractal as previous to see the possible path and I will keep tracking it and will inform you
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Hello friends. Hope you are doing all great.
12. Dec I´ve posted a long term run expectations and today I´m bringing you another confirmation based on MA trend
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Saga of this RSI bull div supp continues time for bounce
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Revisited fractal.
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Possible ADAM & EVE pattern in game
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View on Weekly chart
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Total market cap breakout occured
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After sucesfull breakout BTC correction in my opinion is on its way and Alts grow on its way tradingview.com/x/BK9kBqXg/.
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Caution here. Strong resistance aboove us
Trade closed: target reached
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Taking profits
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4h bearish divergence
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1000 Days 3000% = 3% a Day .. If you bought at this call of bottom and will hold till 21 Dec 2021 there is high chance to outperform daytraders making 2.5% a day stressing in front of monitor shaking his hands and wasting his life tryharding. Odds are on the Buy and HOLD side now
Trade closed: target reached
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Hitting Top red line and forming strong bearish divergernce in April as expected in main idea. Time to leave more bags here and reload lower
Trade active
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If you didnt sold/scalped your bags yet. Here is why you should.
Short ACTIVE
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This is something very interesting. I´ve realized that Gold and BTC have literally the same trend. Check this out .. Im sure that it will shock you imgur.com/a/kWYJhHd
Excellent analysis, and, being a bull, I have to go long here. I believe we are in a consolidation phase for the next leg up and will trade with caution.
WILJOR
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Great stuff here, new to TA, looks like you have a good idea of the scheme of things here, gave you a like and follow. Thanks a lot and looking forward to some decent interaction here.
voidarkterror
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:)
jheideger
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👍👍 I have no words.. Just 💯
luckyUser87260
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like
Sephiroth4269
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This was a fantastic analysis, I wish you had continued it through to the present!