Bitcoin pushing for new highs? or is this bearish divergence

in #bitcoin • 7 years ago

As you can see we have been putting some nice waves in on the 1 hour with a strong trend since the sub $7000 levels & this is expected to continue
however it is important to be aware of both options especially after a strong rally.

Bullish scenario -

  1. We start impulse to 11k and meet Resistance

  2. oversold macd

  3. 1 2 3 4 5 impulse wave

Bearish scenario -

  1. We have support failure & head for $8000

  2. Bearish divergence & double top

  3. expanded flat (b wave exceeds a wave)

Watching out & make plans for for both!

Stay profitable out there!

Dalinhood--

Thank you for taking the time to checkout my technical analysis let me know if you want me to keep them coming in the comments!

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7 years ago in #bitcoin by
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     7 years ago 

    Thanks Dalin, had never heard of the expanded flat B wave before...how does this fit into the more general trend of "higher highs"?

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       7 years ago 

      Prophetic, Dalin. You'll always get my upvote with calls like this :)

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