mycotoxin

BTC - Unusual bearish divergence on daily indicators

KRAKEN:XBTUSD   XBT / USD
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Unusual bearish divergence across the OBV , RSI and KVO indicators simultaneously .
Note also the KVO has broken below its mid-line(the yellow line) .

What's this KVO Business ?
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The KVO indicator tries to determine the long-term direction of the money flow while still being sensitive enough to detect short-term movements. This is done by comparing the volume with the price movement. The indicator then plots the results as an easy to interpret oscillator. The KVO also notifies of trend changes when it breaks above or below its mid-line,

More KVO info
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https://tradingsim.com/blog/klinger-osci...

Can BTC fix this divergence ?
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Yes by moving above 9800 at the minimum. BTC would not be out the danger zone but such a move would put BTC above the first major resistance at 9750 .
Such a move will also move BTC out of the pennant in the graph below that BTC is currently stuck in.
BTC previously broke out of the pennant and hit above the upper trading boundary at 10300 , and then promptly fell back into the trading range and back into pennant ! whats up with that ?

What to do if i still in ?
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Best to wait for a break of 9250 and use this as a stoploss , as if the 9250 area breaks I'd expect a swift move to the 8700 area at the minimum.
Comment: What to do if not in ?
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To avoid bull traps if trading id wait for a break out of the trading range at 10100 at the minimum

Comments

Hidden bear as well
+1 Reply
mycotoxin DeadSerious
@DeadSerious, where do you see the hidden bear ?
Reply
DeadSerious mycotoxin
+1 Reply
mycotoxin DeadSerious
@DeadSerious, Ahh I see, you mean the blue line right ? Yup, that is a hidden bearish divergence
Reply
Thanks for this. See how you like MFI as well, I've been using it ahead of RSI lately
+1 Reply
@duffff, cheers will try that
Reply
Wax on Wax off.. may they never run out of paint..
Reply
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