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Rick_and_Morty
Dec 11, 2021 2:26 AM

Strong support on the monthly RSI here Long

Bitcoin / U.S. dollarBitstamp

Description

A bullish divergence is emerging on the 6 month chart as well. This looking like it will be the bottom IMO

Comment

By 6 months, I mean when you select the 6 month timeframe and get 2 hour candles
Comments
cptOats
While the trend may hold, I don't see bullish divergence - I see BEARish divergence with April high at RSI 94 and November higher high RSI at 75
Rick_and_Morty
@cptOats, true per this chart, but I don't consider an RSI vs price divergence on a weekly or monthly chart, like this one, to be a good indicator. I don't think there is enough resolution. I tend to look for divergence on the daily candle chart or smaller. For instance, look at AAPL stock chart with monthly candles. Jan 2020 peak looks like clear bearish divergence from previous. However, price still went up like a rocket after some correction.
Rick_and_Morty
@cptOats, I confusingly worded my post. What I was trying to say is, when select 6 month timeframe and get 2 hour candles, there is a bullish divergence starting to shape. I have another post with that chart.
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