Jaixii
Long

BTC USD 4HR Divergences pointing to a potential support

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Very bearish month for Bitcoin and most other USD pairs. After such an extreme move south many will sell their positions, but the time to do that has long passed (always set a stop and consider profit taking at high ranges). Currently we are hitting short term resistance at 6,750 but with a solid break it would be good confirmation for a rebound today.

This chart highlights the last bullish divergence seen on Fisher Transform prior to the last pump. There is a bearish divergence visible prior to the major month long downtrend. And recently on the 4 hour chart we find a new bullish divergence as well as a touch on the long term lower channel of the downtrend from the peak this year (fully visible on 1D chart).

On the daily chart , the fisher transform at at the lowest level it has achieved since late November last year when price dropped to 3.5k.

Be sure to see my one and only previous Tradingview post before a massive downtrend. Sadly I left the chart on 30 minutes but if you keep clicking the Play button you'll see how valuable the short idea was =)

Putting out daily market updates for BTC and Alts in Discord, as well as live algorithm signals on most major pairs 24/7. Find our Discord at https://discord.gg/QJHFd5k

Reach me on Twitter: https://twitter.com/JaixiiCrypto

Comments

I agree. On the linked 3hr it looks like $6112 by 7 Dec is possible? AB = CD, Linear Regression, Fib Circles, Gann seem to correlate? http://bit.ly/383e9ox
+1 Reply
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