As you can see, RSI managed swing higher and closed slightly higher than before (Oscillator Higher High), while $BTC price made Lower Highs (LH). It's an indication that market signalled price decline will continue. But remember, it's just a signal. We will need to wait for confirmation. in this case wait for RSI goes to bearish sentiment (below median 50). Specially for this chart, RSI is lower than 40 or 35 indicates the decline continues.
This divergence is invalidated if RSI managed to make higher swing (>60)
I don't think it's the time to make a new long.
This divergence is invalidated if RSI managed to make higher swing (>60)
I don't think it's the time to make a new long.
Comment:
forgot to mention, in addition to RSI swing higher than 60, price also swing higher than 12190. then divergence is invalidated
Comment:
posted this TA before end year of 2017.
posted this TA before end year of 2017.
Comment:
there's no reversal signal so far..
Comment:
no reversal signal, yet
added green box, our long term support. expect bounce here or if it doesnt hold, bear market is real.
not making any long yet
added green box, our long term support. expect bounce here or if it doesnt hold, bear market is real.
not making any long yet
Comment:
perfectly touched green box and bounced. but, it's not a reversal yet. not sure for now. just enjoy the profit
perfectly touched green box and bounced. but, it's not a reversal yet. not sure for now. just enjoy the profit
Comment:
just updating some key points.. not price action
just updating some key points.. not price action
Comment:
for me 10336 is the most important level
Comment:
Market is signalling reversal. I think it's time to watch for exit level of this short
Comment:
4H chart is giving bullish divergence.
