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.
Volatility is on historic lows. I expect a massive move incoming. We still havethis massie short position open from last post. Possibility for an impulsive short squeeze other than the last slow short inverse bleed. I'm leaning bullish.
Bitcoin shorts on Bitfinex skyrocketing. A lot of people expect more downside. Might lead to a short squeeze, where the whales use the retailers as liquidity. Last time the shorts were at ATH was at the beginning of April where the shorts were squeezed with a $1.5k candle.
Ok we habe bullish divergence until nirvana on all oscillators, 1D stoch RSi (not in the chart) still close to zero. I think we will get up until about 6750ish and retest the cloud. There is also a high liquidity zone. Chances are we get hammered down there and see some more downside. A close inside the cloud would be a good sign and maybe this was just temporary...
The Stochastic RSI indicator on the daily is as low as Zero, the lowest since Septemper 2017. Its resting on support and on the bottom of the ichimoku cloud (see last post). If we break through there it could get ugly. Until then im neutral positiv.
Bullish divergence on the 1h. Lets see if this is the inverted head and shoulders playing out. I dont base trades arounf these patterns, because the are very subjective, but this one can still play out.
There is a hidden bullish divergence (higher lows on price, lower lows on the oscillators) on the 4h on all oscillators I checked RSI, OBV, Stochastic (not in the chart), MACD (not in the chart) and Money Flow Index (not in the chart).
As you can see, in the past the peaks often fell on a new moon, the lows on a full moon. We just passed full moon.
Wie du sehen kannst, fielen in der Vergangenheit die Hochs oftmals auf einen Neumond, die Tiefs auf einen Vollmond. Wir haben den Vollmond gerade passiert.
Sometimes the linechart gives you a clearer perspective, because less noise. On the 1D-chart you can clearly see a gigantic descending triangle forming, with the tip in september. Usually price breaks out on the top in descending structures.