the hidden bearish divergence is a signal that there will be a downtrend continuation. daily negative divergence is a confirmation that uptrend is finished. price dropping below the 200ma of weekly is a sign price is moving towards the downside. a close below 23.3k the daily 200ma will confirm price will drop toward the previous low of 15.5k. most likely this 15.5k low will not hold and we will create a new lower low.
a new lower low in price and a higher and high in oscillators, be it monthly chart, weekly chart and daily chart. this will give us a signal the start of real bullrun.. key level to note 23,3k 15.5k, 12.6k and 8.9k
not sure about this atm, dont think will go lower than 20k
Bro-of-Ced-Rich
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@sweetest, i believe the next positive divergence will be below 15k.
sweetest
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@Bro-of-Ced-Rich, I like your analysis but I think the bottom was in at Christmas, just will be a lot of chop before the monthly flips 100% bullish which could be in 6 months or anytime soon. I really cant see it below 20k in a worst case scenario. Feels like similar place to June 2019.
Bro-of-Ced-Rich
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next level 23.3k the daily 200ma. breaking don this level will lead to 15,5k the previous low.