Orion Protocol (ORN) / BTC / USD - Bullish divergence

On the above 1-day chart price action has corrected 50% since mid-September. A number of reasons now exist to be bullish (including USD chart), including:

1) Price action prints a ‘incredible buy’ signal. Look left.

2) Regular bullish divergence. Currently 8 oscillators are showing bullish divergence with price action.

3) RSI resistance breakout.

4) On the weekly chart price action is testing past support, although not confirmed.

Is it possible price action falls further? Sure.

Is it probable? Very unlikely.

Good luck!

WW

PS: not in this trade (like so many posted) so ask for updates below.


Weekly chart:

Trade active

Trade active:

Multiple bullish engulfing candles on the daily chart with 8 oscillators currently showing bullish divergence with price action.

Market reversal pattern on the weekly. You know how I feel about those patterns ;)

Trade active:

Higher low, higher low, higher low... watch it go.

Trade active:

The 2-day chart prints a 'buy signal' with bullish divergence.

Comment:

PS: The last time these conditions printed a 700% upside move was seen. Ask me below for an update if needed.

Comment:

Gotta to love the symmetry / fractal here. If I forget someone below ask me to see how this played out. Thanks!

Comment:

2-day BTC chart, look left