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Mikebike
Oct 5, 2018 4:37 AM

CGC Update - Hidden Bearish Divergence on 1H Chart Short

Description

Although the bears were rejected at $45 and price has moved upwards again, the 1H chart seems to have formed a hidden bearish divergence. There's also potential for a crossover of the 200 and 50 EMA. I'm not convinced about the bull case just yet. A convincing break above $55 would change my mind.
Comments
CryptoMitch0124
It broke that resistance.. bullish?
Mikebike
@CryptoMitch0124, Yes, the triangle support held. I wouldn't say bullish. It is still in the triangle consolidating for now. I would watch what happens in the next couple of days. Here is an update with two scenarios:
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