IndianatheGreat
Short

XBTUSD: Bear Divergence on the Bitcoin (1D)

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
I usually look for divergence on the 4H to 12HR, but there was none showing for that, however, my line brother Nick did an analysis on the 1D and pointed out the div on the BB%, Stoch RSI crossover, and the midpoint RSI resistance. With the addition of me using the Storm indicator (Stormgewehr 44), all 4 of my divergence indicators are showing a hidden bear. Additionally, we can see the volume has been going down, despite the recent jump in price. I will wait until the close of day (8 PM EST) to see if the candle closed red, but I believe it will close red and I will short. If not, I may check around midnight, or set a sell stop around 6250ish. Target is 6300, and I'll have a stop loss around 6700+ (probably 6800). This should all work out unless a market maker wants to mess everything up.

Just a reminder this is not financial advice.

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