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Bullish Divergence

BTC Long Term And Short Term AnalysisBTC LONG TERM - The bullish divergence looks like it's playing out on the 1D and close above the 21 EMA yesterday which means it could go and test the 55 ema at 25000, so I don't think this bounce is over just yet. BTC SHORT TERM - On the 1H it looks like it wants to put in a temporary top and pull back a little bit. There is a tiny bit of bearish divergence too, so that could lead to a little pull back on the shorter time frames. BTC OVERALL - I can see BTC having a pull back today and carry on it's bounce later on today or going into the weekend. Let me know your thoughts in the comments and like my idea!!
by cryptokid1507
Perpetual PERPUSDT - Record volume! + Elliott wave + Wedge!- If we take a look at the volume indicator, we can clearly see a massive bullish volume spike, which is definitely a good sign! - On the weekly scale, we can see a falling wedge that is currently breaking out! - As per my Elliott wave technical analysis - the huge impulse wave (12345) should be completed, as you can see. - On the RSI indicator, there is a bullish divergence - wonderful sign of a trend reversal. - Profit target: 0.618 FIB + start of the wave 5 for 700% profit. - Look at my ideas about another interesting altcoins in the related section down below ↓ - For more ideas please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
6
INTU - near term upsideINTU hit the low on 13 May and has not gone any lower since. It has been chopping sideways for almost 2 months and appears to be forming an ascending triangle (odds of breaking up is greater). On the monthly chart, we are seeing a possible 3rd inside bar this month and also a bullish divergence with the RSI. A breakup of the ascending triangle at 425 could be early signs of optimism. However, an bounce right now may still be on a short term swing basis only until we see more signs of a sustainable reversal. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NASDAQ:INTU
by Juliac
Bitcoin BTCUSD - Complete Elliott Wave + Falling wedge! (weekly)- I do not see any reason why bitcoin should not respect the previous all time high support from 2017 (around 20 000 USD). - The price is currently above 20 000 USD and we have had a capitulation wick to 17 600 USD to kick out high leverage traders. - Bitcoin on the weekly chart is currently sitting on the main support: Previous 2017 Swing high + 0.786 FIB + ABC correction completed! - The price is forming a falling wedge pattern, which is definitely a good sign that can lead to a new bullish trend. - As per my Elliott Wave analysis - ABC correction should be completed successfully and we can start a new impulse wave. - If we check the MACD indicator, we can spot a bullish divergence and the first bullish tick on the histogram! - If this Elliott Wave analysis is wrong, then anyways we should go back to 28 000 USD to retest the 0.618 FIB level + trendline of the wedge. - Look at my ideas about TOTAL crypto cap and BTC.D in the related section down below ↓ - For more ideas please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
9
PolkaDot DOTUSDT - ABC completed! Elliott Wave + Channel- On the weekly/3D chart we can see a parallel channel and the price is currently on the support of the channel. - Due to my Elliott Wave analysis - the ABC correction has been completed successfully and now we are prepared for another bullish market! - 0.618 FIB is the strongest FIB level and the price si currently sitting on this level. - If we take a look at the RSI indicator, we can spot a nice bullish divergence with a lower high! - Wave 1 horizontal support (previous swing high) from 2020 is another great support that we have. - Look at my ideas about another interesting altcoins in the related section down below ↓ - For more content, please hit "Like" & "Follow"!
Long
by UnknownUnicorn2537518
3
BTC Long Term And Short Term AnalysisBTC LONG TERM - On the 1D the green spot has confirmed from yesterday with bullish divergence at the same time but the stochastic Is still crossing down on the 1D. On the 4H It has come down to the 55 Ema it would be nice to see it bounce off that, If It does then I can see a bit more upside towards 21700. BTC SHORT TERM - My short term target from yesterday was hit (20400) It's been rejected off that resistance and a red spot and the stochastic crossing down too. Like I said with with 4H as long as It stays above the 55 Ema i can see a bit more upside. Shorter target 21000. BTC OVERALL - I think BTC will carry on this move upwards of at least 21000 if it stays above 19700. Let me know your thoughts in the comments and like my idea!!
Long
by cryptokid1507
1
BTC Long Term And Short Term AnalysisBTC LONG TERM - On the 1D it could get a 3rd strike of bullish divergence on the Crypto trend indicator which could maybe give it a little bounce upwards to 22900 then maybe come down further once the divergence has played out. BTC SHORT TERM - On the 1H it looks like it wants to bounce a bit more, it has broke the 21 and 55 EMA with the stochastic crossing up and a green spot on the crypto trend. Short term it could test upwards to 20400. BTC OVERALL - I think BTC will continue this bounce up to at least 20400 with it looking bullish short term. Let me know your thoughts in the comments and like my idea!!
Long
by cryptokid1507
1
How to Trade Bullish DivergenceAt some point in your trading career, you will hear the term "Divergence Trading". Divergence simply means when the price and indicator are telling the trader two different things. It can be an effective addition to your trading strategy, especially if already using indicators like RSI or MACD to find overbought and oversold levels but should not be replied on by itself and requires practice to get it right. There are two types of Divergence you want to be familiar with: Regular bullish and bearish divergence and Hidden bullish and bearish divergence. In this educational tutorial, I will cover Bullish Divergence. You should note that the appearance of divergence doesn't happen 100% of the time, but when it does, you can use it for additional confluence (extra confirmation) for entering trades. Bullish Divergence Overview: A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again—often a bullish divergence marks the end of a downtrend. Notice in this example of GBPCAD, the price was in a downtrend and eventually came to a low at 5494 and rejected the area. The price shows a decline, while the RSI shows the oscillator moving higher. This is an example of regular bullish divergence, as it signaled a potential trend reversal. How to Draw Bullish Divergence You want to draw lines on successive tops and bottoms. Connect the tops and bottoms only, and keep your eyes on the price. If you draw a line connecting two lows on price, you MUST draw a line connecting two lows on the indicator. They have to match! Divergence only exists if the SLOPE of the line connecting the indicator tops/bottoms DIFFERS from the SLOPE of the line connecting the price tops/bottoms. Popular Indicators to Use When Identifying Divergence You can use indicators such as RSI, MACD, CCI, or Stochastic to trade divergence. Your selection in one of these indicators will depend on personal preference. I personally prefer the RSI at a 7 period. If you spot divergence but the price has already reversed and moved in one direction for some time, the divergence should be considered played out. You missed the boat this time. All you can do now is wait for another swing high/low to form and start your divergence search over. What is your favorite way to trade Divergence? Let me know in the comments! Happy Trading! :) - Brian & Kenya, BK FOREX ACADEMY
Education
by BKTradingAcademy
9