Bitcoin - Noteworthy: Bearish Divergence Remains Unfulfilled
Greeting from Southmost Texas!
Happy Lazy Sunny Saturday Afternoon, Traders!
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Although in a Bull Market, price action could simply ignore all Bearish Divergences this condition, where the indicators (MACD & RSI) are showing divergent action against the price, traders should never be complacent and be ever mindful that this Bearish Divergence has yet to be fulfilled - somehow.
If this Bearish Divergence gets fulfilled, the downside Price Target would be $20.5K.
If a lot more traders start watching this move or expecting the fulfillment of this Bearish Divergence, unexpectedly, the likelihood of this ever getting fulfilled diminishes resulting to Bitcoin simply ignoring it and will continue it's Bull Trend towards $32-$33K.
Zooming in to the 3 Hr Chart, price is Range Bound and has formed a horizontal triangle, breakout from that triangle is due Sunday-Monday.
Here I explain how the possible scenarios may occur.
You can read the post by clicking on the chart below.
No emotions, stick to your rules.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Happy Lazy Sunny Saturday Afternoon, Traders!
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Although in a Bull Market, price action could simply ignore all Bearish Divergences this condition, where the indicators (MACD & RSI) are showing divergent action against the price, traders should never be complacent and be ever mindful that this Bearish Divergence has yet to be fulfilled - somehow.
If this Bearish Divergence gets fulfilled, the downside Price Target would be $20.5K.
If a lot more traders start watching this move or expecting the fulfillment of this Bearish Divergence, unexpectedly, the likelihood of this ever getting fulfilled diminishes resulting to Bitcoin simply ignoring it and will continue it's Bull Trend towards $32-$33K.
Zooming in to the 3 Hr Chart, price is Range Bound and has formed a horizontal triangle, breakout from that triangle is due Sunday-Monday.
Here I explain how the possible scenarios may occur.
You can read the post by clicking on the chart below.
No emotions, stick to your rules.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
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