Bitcoin's Bearish Divergence
Bullish yesterday, bearish today. The trademark of Bitcoin’s summer doldrums in the halving cycle - every time things look good, a negative signal appears. Every time things look bad, we bounce.
After a nice push to $70,000, price dropped… giving us bearish divergence with RSI on most time frames from the daily down.
RSI never made it to overbought and hidden bullish divergence could print in the coming days. Price could push through regardless. But you know this is my favorite signal, so odds are that we don’t immediately bounce back up here.
Still expecting chop through the end of the summer. It is what it is. I have been saying this since March, no reason to change bias yet.
After a nice push to $70,000, price dropped… giving us bearish divergence with RSI on most time frames from the daily down.
RSI never made it to overbought and hidden bullish divergence could print in the coming days. Price could push through regardless. But you know this is my favorite signal, so odds are that we don’t immediately bounce back up here.
Still expecting chop through the end of the summer. It is what it is. I have been saying this since March, no reason to change bias yet.
scott.melker@texaswestcapital.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
scott.melker@texaswestcapital.com
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.