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CryptoMike100
May 19, 2021 7:29 AM

Seems like a bullish divergence on the 4H chart 

Bitcoin / U.S. dollarBitstamp

Description

Let me know what you think in the comments about this divergence.
Could it play out?

Comment

With the ongoin downward price movement, the bullish divergence that was forming on the 4H has been invalidated unfortunately...
Comments
matusdrabik
is the blue dot in yet?
CryptoMike100
@matusdrabik, Sorry, TradingView keeps deleting my replies...

So the blue dot is not in yet. I will try to post when it is. You can also check it yourself, the Hash Ribbons indicator is free to use :)

There is also a very interesting article from the creator of the indicator. Just Google for Hash Ribbons and medium .com and you'll find it.

Oh just a quick tip, only use the Hash Ribbons on the daily chart - and only for BTC. You can not trust it on other timeframes because it was not designed for other than daily
matusdrabik
@CryptoMike100, is it now? :D
CryptoMike100
@matusdrabik, No :) That does not mean it will go lower. It could be we have seen the bottom but who knows right?
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