BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
You can certainly try to short from these levels but instead I'm using this bearish signal as an opportunity to long from the next support and area of confluence ~$3.9k
Comment: Completely blew through all sorts of support and the buy zone to kiss the S1 pivot. Got stopped out. May still look to long at these levels after reevaluation.

Comments

that is not a divergence. price is sloping down as well.... divergence would have been if price was to rise instead....
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@sciack, divergence isn't limited to just positive vs negative slope. Their differing intensities can also show divergence even if they are going in the same direction.
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sciack LuckyLefty
@LuckyLefty, what are you talking about? It is very simple, study it and then preach not vice versa. Price is making LL's and OBV as well. Where is the DIVERGENCE? There is convergence... come on
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@sciack, Not necessarily divergence, but RSI is clearly gaining strength in the bearish direction while price action appears to be more sideways. Still indicates a local downtrend could be coming
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sciack eudotong1
@eudotong1, RSI? I am commenting this chart, not your chart, in this chart there is no RSI, we were talking about OBV and price divergence. And there is none. I actually see a bullish regular divergence on MFI 1hr and 4hr chart. I am not looking at RSI.
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@sciack, better for you?
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sciack LuckyLefty
@LuckyLefty, yes that WAS a regular bearish divergence and it has already played out. You cannot make the trend line so long, only peak to peak. learn first and then preach.
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@sciack, where are the hard and fast rules to trendlines?
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@sciack, great call. You nailed that one...
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sciack LuckyLefty
@LuckyLefty, what call? I didn't say it cannot go down. But what you showed was a wrong bearish divergence.
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