Great shorting opportunity in Bitcoin on the 1 hour chart
We see a clear Bearish divergence in the RSI verse Price
SIGNAL: Higher highs in price, lower highs in RSI indicator.
See previous three examples always resulted in pullback.
You can short this pullback OR wait for a pullback to 4000 to buy back in.
This is one of my FAVORITE signals
We see a clear Bearish divergence in the RSI verse Price
SIGNAL: Higher highs in price, lower highs in RSI indicator.
See previous three examples always resulted in pullback.
You can short this pullback OR wait for a pullback to 4000 to buy back in.
This is one of my FAVORITE signals
Comment:
You can see my prediction playing out perfectly so far. We had a bearish divergence, and now we are bouncing on that 4000 support level. I think it could bounce here and head higher.
LONG target 4500, stop 3850
of course, it could break 4000 and that means a pullback to 3500, and another buying opportunity there
LONG target 4500, stop 3850
of course, it could break 4000 and that means a pullback to 3500, and another buying opportunity there
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Sign up for TastyWorks - The Broker of the Future:
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Twitter:
@BerlinTrader591
Now we have trendline support. If that holds we could head back up, place stops below trendline. If it breaks, then 4000 becomes next support.