BTCUSD: Hidden Bull Long

Bitcoin / U.S. dollarBitstamp

Description

⋅ May 12, 2020 3:05 PM

There's a hidden bullish divergence on higher timeframes, a confirmation bar almost done being painted; short risk exposure seems justified.

Comments

trytofeelpositive

⋅ May 12, 2020 4:17 PM

interesting chart
i tend for locally long too
share my idea with u

VincePrince

⋅ May 12, 2020 3:38 PM

Thanks for sharing, I see it similarly

Zoen_Trieste

⋅ May 12, 2020 4:13 PM

@VincePrince thanks for sharing too!

bmwalker1789

⋅ May 13, 2020 12:12 PM

You sure that is bullish divergence? Looks like bearish divergence to me..

Zoen_Trieste

⋅ May 14, 2020 8:16 PM

@bmwalker1789 price lower low, rsi higher low = regular bullish divergence (reversal setups), price higher low, rsi lower low = hidden bullish divergence (pullback setups)

ssemm

⋅ May 12, 2020 3:30 PM

Are u shore that thats the way how to measure divergence. I thought that if the price go down rsi needs to curl up

Zoen_Trieste

⋅ May 12, 2020 4:12 PM

@ssemm price lower low, rsi higher low = regular bullish divergence (reversal setups), price higher low, rsi lower low = hidden bullish divergence (pullback setups)

UnknownUnicorn6361929

⋅ May 12, 2020 3:17 PM

Do you expect any type of big correction like 7800 or 6500 or maybe lower?

Zoen_Trieste

⋅ May 12, 2020 3:20 PM

@MrsBitcoin2020, those levels will become apparent if BTCUSD moves lower than the 25 day moving average (in blue) and manages to close the higher timeframes below it.