Hello,
as you can see, BTC is printing a tripple hidden bear div on the Daily RSI .
It is ONLY confirmed, when todays candle closes red.
Can it wick up to 8k and then reject there? Of course.
Target if hidden bear div is confirmed:
1. target 7k-7.1k which was the outbreak of the last pump
2. target 6773 which is one of my fibonacci levels
3. 6300 because of untested daily volume session
4. 5.8-5.9k which is the weekly 200SMA
The targets might be reached slowly.
I think even a wick down to 4.9k is possible.
Will explain in an example below
as you can see, BTC is printing a tripple hidden bear div on the Daily RSI .
It is ONLY confirmed, when todays candle closes red.
Can it wick up to 8k and then reject there? Of course.
Target if hidden bear div is confirmed:
1. target 7k-7.1k which was the outbreak of the last pump
2. target 6773 which is one of my fibonacci levels
3. 6300 because of untested daily volume session
4. 5.8-5.9k which is the weekly 200SMA
The targets might be reached slowly.
I think even a wick down to 4.9k is possible.
Will explain in an example below
Comment:
Link above didnt work.. heres the new one
If you use the tradingview indicator called VPSV on the Daily and enable "Extend POV right" in the settings of the indicator, you might see a long red line at 4.9k
Those red lines display at which price the most volume has been traded for the day. Normally those red lines are being retested on the next day.. but not this on and the other one at 6.3k.
Do they have to be retested? No.. but hey, we know how BTC can wick down just to liquidate overleverage trader ;)
www.tradingview.com/chart/H5gau3mL/