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BustyDusty
Feb 24, 2021 9:18 AM

Divergence on the daily, what could happen ? Short

Bitcoin / U.S. dollarBitstamp

Description

Divergence occurs when the indicator fails to imitate the pattern on the price chart, a sign of trend weakness and likely reversal. In an up-trend, if the price makes a new High (a higher peak than the last) but the indicator fails to do so, that is a bearish divergence.

You can see the supports that can resist the price fall However, 30k is strong support breaking it will get the price to the bottom at 20k.

Comment

wait the price to see if it will break 42k or retrace.
Waiting for the candle to close depending on your trading speed is important.

Comment

price reached above ATH.
It didn't break 42k so no longer valid, and changed to a long position signal after crossing up 58k.

Trade closed: target reached

Comments
big_drems
very interesting analysis...
Dustynotbusty
دماااااااااااااااااااااااااااااااااااااااااااكسسسسسسسسس
BustyDusty
@Dustynotbusty, لس قووووووووووووووو
Izzyg61
I am praying for your worst-case prediction, and then another dump lol. Leverage got all my bitcoins! :(
nnrahbar
and then heavy dump 🤔
BustyDusty
@nnrahbar Ya could be , better wait to see the price breaks 42K
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