During this recent drop, while the price creating a lower high, the RSI created a higher high. This is an indication of a continuation of the downtrend so beware buying here. It's already sold off multiple times and simply looks like a retest of former trendline that we fell below.
Well that sure melted like butter on a hot summer's day. Stay safe. I believe it's going to get rockier for maximum pain.
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$4300 next?
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Wow, even lower than $4300. We got a bounce but it ain't over yet. Already ANOTHER hidden bearish divergence formed on the 1H chart. More pain to come and likely much deeper this time. Will it bounce back above the 200 weekly MA this time?
@Daicea, Oh this was from back in March, but if you click the forward arrow you can see how it played out preceding that big drop. I do think we'll see its twin in the coming weeks. Right now whales are enjoying selling their bags to retail bulls before the dump.
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@Jeff_Cryptopop, I am honored to see your posts here, really glad and feel blessed, and I further studied and followed your posts in Babypips,too. You are talented, I am also witnessing the twin dump (a new low historically), but I dont know when, I have sold most of my BTC anyway. I am following you for the dump tracking. :)
We're now out of that "consolidation zone," so unless there's some huge unforeseen market buy right now, it's slide, slide, slippety slide. Especially below 7500.