LINK Bullish Divergence
Following a tutorial from EmperorBTC on Bullish Divergence and noticed LINK seems to be painting a strong bullish divergence.
- Price forming lower low on the close
- RSI forming higher low
- i.e. sellers not selling at the same momentum
I will be waiting for further confirmation in the form of:
- Supply absorbing candle (low)
- Bullish engulfing candle following supply absorbing candle
- Volume increase above MA.
Final observation is OBV increasing on the 1D, though not supported on the 4H so not sure if that is a valid confirmation or not.
Could be reaching the end of this leg down.
- Price forming lower low on the close
- RSI forming higher low
- i.e. sellers not selling at the same momentum
I will be waiting for further confirmation in the form of:
- Supply absorbing candle (low)
- Bullish engulfing candle following supply absorbing candle
- Volume increase above MA.
Final observation is OBV increasing on the 1D, though not supported on the 4H so not sure if that is a valid confirmation or not.
Could be reaching the end of this leg down.
Penafian
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