BTC bearish divergence. Short term bear
This is quiet a simple analysis.
As we know, we are expecting a daily tightening range (equilibrium) for BTC on the which means a lower high under the 11,150 zone.
Now zooming into the 1hr chart as we get close to the , it is apparent we have a hidden divergence, as you can see by the lower high formation on the .
Furthermore, we are seeing the divergence steepen upon the San price action is becoming more horizontal and less vertical showing that the short term trend reversal is now favorable.
Day trading bears have an excellent opportunity here and can short with a SL at 11,200.
Would be looking to take profits in low 10’s if opened short position at time of writing.