Hidden Bullish Divergence has been spotted on BTC USD chart.
For those who don't know about it, hidden bullish divergence Indicates underlying strength. It occurs during a correction in an uptrend when the oscillator makes a lower low while the price action makes a higher low. This indicates that there is still strength in the uptrend and that the correction is merely profit taking rather than the emergence of strong selling and is thus unlikely to be last long. Thus, the uptrend can be expect to resume.
TIME FRAME: 2H
PRICE: HIGHER LOW
OSCILLATORS: LOWER LOW
I am expecting a good Bullish movement soon. And with expiration of CME quarterly contract, it becomes imminent for BTC to rise soon. This is just a small update so that you guys can keep an eye out this.
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal. Invest your capital at your own risk.
Keep an eye out. Trade safely. Always remember, money not lost is also a profit.
Good luck trading.! Peace.
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This is what i see at the moment:
1. The price is moving in the middle of the Bollinger band and the band id shrinking up. Some movement are expected soon.(up/down)
2. The price has been forming a symmetrical triangle which is coming to an end. Again, some move is expected soon. I am expecting it to break upwards.
3. On the downside, EMA(26) is acting as a good support. So, if it tries to fall down this support should hold. As per me, 8k is the point of maximum for at this time. 8k level should hold.
4. If it breaksout of the triangle, it should have a good rally to atleast 8400.
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Perfect Rebound from 0.5 Fibonacci level on shorter TF.
@nDman_sk, That is not a bearish divergence. You are misinformed. We check Higher highs and Lower highs for Bearish divergence. This is Hidden Bullish divergence.
This_Guhy
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There certainly is hidden bullish divergence on the 2h but the daily chart is showing a massive amount of hidden bearish divergence and I think over the next week or so we will see that snap in dramatic fashion. There may be money made going long, but it is high risk, use your stops and take profits.
fadywanis
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I am expecting a drop to 7.6k first :) ... with all respect, I think this is a bearish divergence :)
johntradingwick
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@fadywanis, I respect your opinion but i think you are a bit confused between Hidden Bullish and Bearish divergences. I don't know if i am allowed to refer to article links here but I'll message you some links and you can refer to them, they all state the same thing which i have posted above.
When the price makes higher lows and the oscillator makes lower lows, it is hidden Bullish divergence. :)
p2hku
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@imfamousrajat, That's definitely a hidden bullish divergence, nice find! I got my longs filled from 8000-7831. Didn't expect anything lower than 7800 TBH, the ABC correction C wave target was around 7878. Initially even 8k seemed pretty strong, but the ''fake'' ETF news scared away some noobs and the final dump gave the chance for the whales to load. In Bitmex there were 222 million contracts sitting between 8000-7800, almost all of them filled.
johntradingwick
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@p2hku, Thank you. I was expecting it to go till 7800 and then rebound. But people waiting at 7800 were in disbelieve after the fall and so they lower down their buy orders to 7500-ish range, which was utter foolishness in my opinion because they became too greedy. Longs from 7800-8000 will turn out to be profitable soon. Also, the CME futures contract was to expire yesterday, one of the reason for that fall. The next contract will open on 30th July, which will be long as far as i know, so i am expecting some good upward move from Bitcoin in the coming weeks.
fadywanis
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@imfamousrajat,
Price always follow oscialltor and not the other way around. Eventually the price divergence will follow the oscillator.. I think it's hidden bearish .. I will look though articles
johntradingwick
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@fadywanis, You are misinformed, mate. You should read the articles which i send you via personal message. You are getting confused. For bearish divergences, we look at the highs and not lows. Have a lok at the articles and you will have a clear understanding.
jasonwhite
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@fadywanis, Why are you arguing before you read articles? You're saying bullshit stuff and then you end it with " I will look through articles"
Why didn't you already read articles before you write your comments? Unbelievable people ^^