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koryu
Jan 26, 2020 8:53 PM

bitcoin hidden bullish divergence in play Long

COINBASE:BTCUSD-0.011D
BTCUSD-0.01Coinbase

Description

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Bitcoin is forming a hidden bullish divergence on the rsi.
It is likely to resume the uptrend from here.

Can read the divergence as: Selling got absorbed without moving the price to a new low, means that bulls took control over the price.

Comment

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There was so much energy in the divergence that the price moved above the daily ma200.

Comment

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the divergence trade is completed, i expect btc to consolidate for some time and then move higher
Trend Analysis
Comments
schaffi2
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Your first divergence was a bullish one, but your second divergence is a bearish one. Ask the internet. So the result should be a falling in price in future.
koryu
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@schaffi2, nope its a hidden bullish divergence
schaffi2
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@koryu, checked again and you‘re right. Bullish div. So the price should go up.
koryu
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@schaffi2, thats the reason why its called "hidden" :) it seems confusing first.
schaffi2
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@koryu, right!
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