Bearish Divergence on the XBTUSD 1H Chart
We do see a bearish divergence on the XBTUSD 1H chart (Kraken) at the end of this week.
Looking at the daily chart the current green candle looks like a temporary peak but it still seems to be a downtrend.
Going back to the 1H chart, we see that the bearish divergence is followed by two red candles - that might indicate the end of the uptrend.
Profit target is the level of the weekly pivot at 10099. If your going to put in a trailing stop, I think that 10280 would be a good level.
Looking at the daily chart the current green candle looks like a temporary peak but it still seems to be a downtrend.
Going back to the 1H chart, we see that the bearish divergence is followed by two red candles - that might indicate the end of the uptrend.
Profit target is the level of the weekly pivot at 10099. If your going to put in a trailing stop, I think that 10280 would be a good level.
Trade closed: target reached
Profit-Target was hit:
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⚡ ProDivergence buy.stripe.com/3cs14e15h6FiaBy6oo
⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.