Healthy run up? Bulls in control? All I see is divergence
Hey guys your boy Vinnycrypto here to analyse how healthy this bull run was.
1. 12h candle just closed as very bearish reversal candle.
2. Got rejected right on last high and on a very important trend line seen in last analysis
3. Possible double top forming.
4. RSI shows bearish divergence.
5. Histogram shows bearish divergence.
6. MFI shows bearish divergence.
7. Descending volume from previous run up to same high.
8. Highest volume candle of this while little run up is a bearish reversal candle.
I am not saying to short just yet guys as we will probably have some good support around the 6600 and 6500 zone. Making it a profitable short yes, but with very poor risk reward ratio. Longing here or not closing profitable longs just seems like gambling now.
Longs have to wait for a cancellation of those 8 points with an added confirmation.
You like what you see? hit the thumbs up button and follow me on here and twitter to be sure to catch my analysis.
You don't like what you see? Owl at the moon and open a good old long position.
Trade safe.
1. 12h candle just closed as very bearish reversal candle.
2. Got rejected right on last high and on a very important trend line seen in last analysis
3. Possible double top forming.
4. RSI shows bearish divergence.
5. Histogram shows bearish divergence.
6. MFI shows bearish divergence.
7. Descending volume from previous run up to same high.
8. Highest volume candle of this while little run up is a bearish reversal candle.
I am not saying to short just yet guys as we will probably have some good support around the 6600 and 6500 zone. Making it a profitable short yes, but with very poor risk reward ratio. Longing here or not closing profitable longs just seems like gambling now.
Longs have to wait for a cancellation of those 8 points with an added confirmation.
You like what you see? hit the thumbs up button and follow me on here and twitter to be sure to catch my analysis.
You don't like what you see? Owl at the moon and open a good old long position.
Trade safe.
-Buying Volume increasing massively when we hit 6600.
-support at this little uptrend trend we currently hold could bring us straight to the 700 7100 zone where we will be met once again by the big trend line from the may and july highs.
This little bull move could happen from today to the next few days as long as we hold support on this vertical trend line.