syncro23

Monthly RSI Hidden Bearish Divergence confirmation.

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
Lets not forget this little bad boi either!

Hidden divergence is indeed considered an indication of trend continuation, but have a look at the bigger picture here.

Eeeeeeven if BTC remains bullish on the macro trend, this confirmation of hidden bearish divergence could see a comparatively massive pullback. This would fit the "Expanded Flat" paradigm mentioned in my other post today. After a redonkulous 91 level on the monthly RSI one could expect the old dog might be a bit clapped out and in need of a rest.

With 2 touches on each side, Bitty appears to be in a positively gigantic Ascending Broadening Wedge . A 3rd tap on macro trend support due to Hidden Bearish Divergence could see the asset return to 15 or 20k... or LESS!

The Ascending Broadening Wedge is known to be a continuation pattern, so if this scenario plays out the measured upside move is astronomical. But honestly, this will take years and years and years. A lot can happen to change the course of history in that time, so who knows!?

Food for thought anyway.
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