On the daily chart there is a hidden bearish divergence (orange lines). HBD is defined as lower lows in price action with higher highs in the oscillators.
Additionally price action has entered the Gaussian strip following a bullish period, just as in March of this year. (orange circles)
The two targets on the daily chart I'm looking out for are:
1) $285
2) $210
I'm aware the 21-weekly EMA is higher but that does not mean price action cannot fall through as before in March during the week.
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Correction - should have read:
"HBD is defined as lower highs price action with higher highs in the oscillators"
Fantastic analysis! I saw a simular setup on BTCUSDT chart. Thanks for your idea matie!
without_worries
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@DrogonAzul, Thank you! The HBD is also visible across the 'Total Market Capital' daily chart suggesting there's an event in the post that'll impact the entire market.