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uncleFA7HER
Dec 20, 2020 8:24 PM

BEARISH DIVERGENCE ON BTC - CHRISTMAS SALE INCOMING ! Short

Bitcoin / United States DollarCoinbase

Description

Just demonstrating a bearish divergence that has taken place on BTC. Clearly much higher high's on price while the oscillators are collectively lower - the only outlier being the MACD, yet it is also mirroring this signal through the histogram beginning to cup over to the downside.

I believe this is a good place to exit the previous trade longing the
Light red is medium risk profit collection, dark red is greedy profit.

I am still majorly bullish on BTC in the long run - however, there has to be a pullback after 9 days on consistent gains totally almost %30 gains depending on your entry price.

Ideally BTC will pull back below the local minimum of $22,200 creating a lower low on price yet a much higher low on the oscillators forming yet another major bullish divergence from which the market can peruse a confident push forward.
Comments
Investroy
Nice and understandable charts, let’s bag the pips, don’t you think?
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