BTC shows two different scale bearish divergences when it is at major resistance ! It is a clear warning.
Mentioned divergences have been shown on the chart. First is major one and second one is minor but both are clear and beautiful.
RSI is making a clear divergence with price : Last established lower high and possible next lower high (Connected by a thick red line on the chart) show different trend (Thick green line) on RSI indicator.
MACD is also showing a bearish divergence with price in step like recent moves. We have minor higher highs on price chart (Thin green line ) with different trend on MACD ( Thin red line ).
Please note possible divergences are important at resistances and as I showed in my latest published BTC idea, Bitcoin is currently fighting with 4 resistances (See related idea for detail ).
Is BTC able to break all the resistances and escape from bearish divergences? Many may be optimistic about this but as my exprience says : Cautious is needed in these situations.
Good luck everyone.
Mentioned divergences have been shown on the chart. First is major one and second one is minor but both are clear and beautiful.
RSI is making a clear divergence with price : Last established lower high and possible next lower high (Connected by a thick red line on the chart) show different trend (Thick green line) on RSI indicator.
MACD is also showing a bearish divergence with price in step like recent moves. We have minor higher highs on price chart (Thin green line ) with different trend on MACD ( Thin red line ).
Please note possible divergences are important at resistances and as I showed in my latest published BTC idea, Bitcoin is currently fighting with 4 resistances (See related idea for detail ).
Is BTC able to break all the resistances and escape from bearish divergences? Many may be optimistic about this but as my exprience says : Cautious is needed in these situations.
Good luck everyone.
Comment:
Divergence at resistance always calls for caution.
