BTCUSD - Persistent Bearish Divergence on 4H

Bitcoin / U.S. dollarBitstamp

Description

⋅ Sep 27, 2017 9:49 AM

Up or down hard to tell - mixed signals.

BTC above bearish trendline - but only barely - rise lacks momentum but remains stubbornly bullish so it could continue.

However, all previous major consolidations have always bottomed out at the bottom of the main up channel - which this one has yet to do.

Plus bearish divergence persists on 4H - so a retest of $3000 remains a possibility prior to next bull run.

Comment

⋅ Sep 30, 2017 2:02 PM

RSI divergence referred to here has now cleared.

Trend Analysis Chart Patterns

Comments

dimiracle

⋅ Sep 30, 2017 1:26 PM

need update sir

mytorc

⋅ Sep 30, 2017 2:05 PM

@dimiracle, RSI divergence referred to here has now cleared. Overall the short term outlook has become more bullish. Minor consolidations within the current local up-channel are of course expected.