Brodie_MT
Long

BTCUSD Bullish Divergence

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Appears to be a bullish divergence based on a higher low and a lower volume and lower low on the RSI . This coincides with Coinbase's announcement that they will continue to support "bitcoin" as the original chain and refer to bitcoin 2x as b2x . Could dip a little more today, but should be positive by tomorrow.
Comment: This is actually a potential "hidden bullish divergence" and I should note... this is only a set up for it and cannot be confirmed until the day closes and the price begins to move upward on the subsequent candle.

Comments

How is this a daily bullish divergence? I thought you needed a lower low price + higher low oscillator. Source: http://www.investopedia.com/articles/trading/04/012804.asp.
Here we have a higher low price + a lower low on the oscillator. Moreover, the day isn't done yet, the price and RSI could still change.
+1 Reply
tshah nerophon
@nerophon, stupid chart.i think he bought the top thinking 7k :lol
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@tshah, it matches the first thing that comes up when you google bullish divergence so please explain?
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Brodie_MT nerophon
@nerophon, Well im trying to learn here so educate me, is this not a bullish div?: https://bpcdn.co/images/2016/05/grade11-hidden-bullish-divergence.png
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tshah Brodie_MT
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@tshah, http://www.profitf.com/articles/trading-methods/divergence/ I suppose I am calling it too early to confirm whether or not it is a divergence. I appreciate that both of you encouraged me to do more research. @tshah @nerophon Thanks.
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nerophon Brodie_MT
@Brodie_MT, I don't know, I'm not a professional trader. I'm just quoting what Investopedia says.
+1 Reply
Brodie_MT nerophon
@nerophon, no youre both right... i think i jumped to a conclusion because of the image i googled. hidden bullish divergence is still a possibility but it needs to close higher than $5570. I really do appreciate the criticism.
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lol man
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