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Solldy
Aug 13, 2022 2:54 PM

BTCUSD ❕ triple bearish divergence Short

Bitcoin / U.S. dollarBitstamp

Description

Bitcoin seems to be overbought right now, and here's why:
1) Price and RSI have formed a TRIPLE bearish divergence (4H TF)
2) BTC and trading volumes also form a clear bearish divergence (4H TF)
3) The growth occurred abruptly, sharply, with wide candles.
I think this is a great entry point for a reversal move, that Bitcoin will go down at least to the point of control (POC), if the price will fix under the upper boundary of the current zone.
Comments
peterbhc
I have exited my positions up here and am waiting for next move confirmation. I do not like the gravestone doji yesterday, and then... the low volume push up? I am just waiting for the whale pump and dump to take out the leveraged longs.
parissap
@peterbhc, agree with you
malbooth
I've already seen the divergence, the 3 day chart and the weekly charts are even more prominent.
PRO_SMART_Trader
Agreed ,You’re also good at cheering everybody up, now its your turn! thanks for Idea!
Vibranium_Capital
you legend
Artem_Dishel
Thanks for sharing
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