Hey guys, How are you doing? I hope the market is treating you well and the hype is on the verge to explode like it always did in the previous pre-bull run scenarios.
In today's insight I just want to remind you that a hidden bullish divergence is on the build up on the 4H time frame which can be considered as one more confluence and validation for the continuation trend.
Divergences not only signal a potential trend reversal but can also be used as a possible sign for a trend continuation (price continues to move in its current direction).
Always remember, the trend is your friend, so whenever you can get a signal that the trend will continue, then good for you!
Hidden bullish divergence happens when the price is making a higher low (HL), but the oscillator is showing a lower low (LL).
This can be seen when the pair is in an UPTREND.
Once price makes a higher low (HL), look and see if the oscillator does the same.
If it doesn’t and makes a lower low (LL), then we’ve got some hidden divergence in our hands by which we are seeing the scenario on Bitcoin's 4H timeframe chart.
I will be updating more on the overall market trend and will give a weekly analysis on the end of the weekend. For now stay safe on your trades and keep learning.
Wishing you a best weekend to have and stay blessed too.
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A bullish descending triangle breakout on the 1H is forming in and seems to be in good movement if momentum can keep up with the charts by the weekend which shows a very slow moving behavior in crypto by nature. Meanwhile. I will be updating the short term outcomes.
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And don't forget that we might see a temporary correctional move since both MACD and RSI are showing that bulls seems to be sophasticated on the swing. Stop loss is a must in every trade to make sure that you are still flowing with the game accordingly.