I am still bearish on my longer term analysis, but looking at the intraday i see a possible 1810
A falling wedge and exhaustion of selling as we wedge into support. I have pulled a fib retrace from that structure and am targeting the 382.
The 618 may get hit but will act as icing on the cake. Also we have divergence on the RSI below.
Happy trading.
LONG TERM HORIZONTAL RESISTANCE
.234 FIB
RSI OVERSOLD
RSI BEAR DIV SHORT TERM, BUT COULD POTENTIALLY UNWIND BIGGER M TOP FORMATION
INSIDE BAR CANDLE ON A DAILY TF
ETH 2.0 FUNDAMENTAL EVENT HAPPENED ON AUG 4TH. WILL THIS BE ONE OF THOSE "SELL THE NEWS TOP"?
FEAR AND GREED INDEX FOR CRYPTO 79 - EXTREME GREED. NOT A GOOD SIGN TO SEE AT RESISTANCE.
IF YOU FIND MY...
On the weekly you can see a massiv bullish divergence on the OBV for Bitcoin building up. This is a regular bulish divergence where the dumps become less and less powerful. I wouldnt base a trade solely on this divergence, but it tells, that a reversal is getting closer. Maybe not the next or the one after. But getting closer.
This hidden bearish divergence is valid only if we don't make a higher high on a price (2.09 is a resistance). If we stay below 2.09 down go EOS
We can also see a regular bearish divergence on a lower time frames.
GoPro has been diving into the depths of the chart, doing price discovery and trying to find a bottom; but we can see the market has been buying these dips, as illustrated by the MACD and RSI bullish divs.
Taking the long trade here is really good in terms Risk/Reward but gambly in the sense that there's no bottom put in just yet.
