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Bearishdivergence

Class A Triple Bearish Divergence on BTC DailyWe see clear class A triple bearish divergence has formed on the BTC daily chart. This is an indication of a likely bearish reversal of the short term uptrend BTC has been experiencing. Recently, BTC has been holding the heartland of the bear flag channel that it has been in since June 16th. The recent upward price movement did not reach the top of the channel and now is heading down. The price action has been tightening for BTC, lately, so a full test to the bottom of the channel might be unlikely. It is difficult to predict where this move could wind up, the most bullish case would be dipping below the hear line, not reaching the bottom of the channel and moving back up. In that scenario the oscillators could get reset and this divergence was invalidated. The most bearish scenario would be to test the bottom of the channel and then break down, returning back to the long term downtrend BTC has been in for November 2021. Also, the long term bullish shark pattern which has around $10k as the shallowest PCZ is still in play. For me personally, I am not taking longs on BTC right now.
BITSTAMP:BTCUSD
by wuliwong
DXY to fall bullishly (W bottom Dollar Milk Shake scenario)Falling wedges are generally very bullish structures that have targets at the hight of the wedge. If a falling wedge is on a flagpole then the target of the wedge is going to be a flagpole extension. But price often don't go straight up. Having price action retest lows is very normal. Having price action retest a trendline that was resistance and turn it into support is very normal as well. If DXY does either one of those it can form the the W pattern I think can form from this set up. This chart is rather zoomed out to show 40 years of data. The RSI is clearly got some bearish divergence and has come ouf of the orange macro wedge into a micro black rising wedge. If price came out in a channel rather than a wedge, I would be a bit less bearish on DXY. I don't want to get too far ahead of myself when it comes to forecasting too far out but calling for a retrace seems to be a very safe call. That retrace falling to the gray box or the wedge resistance is also very safe. Calling for the RSI to chop its way downward to below 30 also seems a very safe call. My linked ideas show some very bold calls on DXY that were contrary to the broader market. I was one of the first people to publicly draw dxy in a falling wedge on the log chart. Please see the linked ideas for several of those ideas. I was also one of the first to publicly chart the falling wedge on bitcoin on the standard scale I was one of the first to publicly call for a inverted head and shoulders on ETHBTC The point off all that? I have a pretty good eye for seeing how different scenarios can play themselves out. When I started with Tradingview I didn't have the emotional discipline to trade properly them and that is still coming along. The DXY Dollar milkshake W scenario would cause the most pain to the most people who are not zoomed out and able to catch this transformation. I can't get caught out like that. And of course, I have been disastrously wrong before. Especially in cryto. But DXY moves much slower than crypto so there is more time to plan, zoom in and zoom out. I have tagged this neutral because I don't see a direct dxy trade I would want to do now. Indirectly I think the equities and crypto will go crazy for a couple of years and I want to benefit from a dxy reversal
TVC:DXY
by This_Guhy
7
The Big Short Incoming ? Simpler is always betterI opted to keeping it simple here, using just 1. FIBO RETRACEMENT to determine main support areas, which are likely to be broken but won’t give the price an easy pass through them, Support Area 3 (as mentioned on the chart) represents key area imo, and with a clear 2. BEARISH DIVERGENCE on the 4 hour time frame, I think breaking of all above mentioned support areas is the closest scenario to happen so be ready for a massive incoming drop. The mentioned support areas above are great take profit points if you opened a short position. This massive drop should only stop with a Huge Volume Spike , which if doesn’t appear before the 17K area, we can kiss it goodbye for now. PS: This is not a financial advice, DYOR and trade accordingly. Best of luck.
Short
by Mohanad_ElMeligy25
Lets Talks Divergence! Short BTC/USD !!Lets Talks Divergence! Short BTC/USD !! Note: This Post is for Educational Purpose only. Trade after doing your own analysis. Oscillators are the great tools to look for divergence. Divergence shows the Fall or Rise in Momentum of The Strength. In other words, the Divergence occurs when Oscillators show the opposite picture than the Price Action. Divergence can indicate the change in Trend Before it Happens therefore it is an essential part of my Trading. In the case of Bitcoin, the trend is Bullish and the Price Action shows Rising Trend but the Oscillators below (RSI and Chaikin) seems to be Falling. Trade Plan: Indicators are highlighting Bearish Divergence but the Divergence alone is not enough to take the Short Call. Adding another Strong Confluence I can find is the Resistance, Bitcoin is not able to Break the 24,000 - 24,500 Zone (Highlighted in Red), which shows that the Bears take over at this zone. Strong Resistance with Bearish Divergence on Daily Time-frame are the Strong Confluences which can result in Good Profitable Trade of 1:5 Risk to Reward. Stop loss: It is placed where the Price is Least Likely to go. Target: It is set in accordance with Fib Retracement and the last point where BTCUSD started Bullish Trend. Time Frame: Daily Indicators used: RSI & Chaikin Analysis based on: - Market Structure - Price Action - Divergences - Support & Resistance Disclaimer; Trading is never 100%. This post is for education only. DO NOT Trade without doing your Own Analysis.
COINBASE:BTCUSDShort
by M_Shariq
2
HSY Facing Technical HeadwindsNoticing some bearish divergence on the RSI. HSY of late seems to be trading in a shape that resembles both an ascending triangle and/or a rising wedge. Due to my inability to tell which pattern it is trading in, I will remain neutral on Hershey at the moment. However, the stock has seen quite a run-up in price (since Covid), so HSY holders now may be an optimal time to trim some of this position as market fundamentals and macro risks are looking increasingly problematic.
NYSE:HSY
by Gooby_Trades
1