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Rsidivergence

BTC next moves??BTC has fallen down due to some things in China... Everyone can find this out on the internet. But on the technical side, BTC broke the trendline it held for several months! After the drop, we have seen a nice pullback which means we are still in a bull market! Right now it might be forming a nice H&S pattern. We can also see a nice divergence on the RSI. We need to broke the old triangle resistance line! In the long term, I am still super bullish and I am expecting BTC to hit a 6digit number this year! Remember drops are healthy and quite usual, use them as a nice opportunity to buy!
Long
by MikesJakub
Interesting times for LTC!Hi all, I've been digging around in TA for a little bit, but of course with the whole crypto space being what it is nobody actually knows what will happen so happy trading and make your own informed decisions! I try to trade by patterns and some TA indicators. This run has been awesome! I am looking to up my LTC holdings through some well timed buys and sells. Currently, I am seeing an opportunity for a sell with a potential buyback within the rising channel. Of course, sometimes we see what we want to see in these charts, so again-- not financial advice. Bearish: I found a bearish RSI and MACD divergence in this run. The past few cycles when RSI has reached this point there has been a major downwards correction. Further, LTC has been trading in these triangle patterns so I am wondering what the downwards leg of this triangle will look like when it comes. Let's see how this pans out! Bullish: ALT SEASON! FOMO Huge run this morning. Rising channel breakout Good luck all
COINBASE:LTCUSDShort
by DZiggie
2
Bitcoin has a little more to go downwards before finding supportBTCUSD has been in a rising channel since mid December 2020. It has, remarkably, maintained this rising channel and issues the channel's lower trend line as support around 4 times - this further providing evidence of channel integrity and lower trend line support. Currently the price is approaching the lower trend line support and has a little more to go down before it reaches that level and potentially starts rising again. Based on trend analysis, the price level for support is between around $58000 and $57000. A good entry point would be once the price hase moved into the zone, found support and moved back up with a minimum of 1 - 3 bars of confirmation of upward price trajectory (depending on risk preference) to avoid a false price bounce. However, this would be a risky trade requiring active and closely monitored risk management due to the following cautionary notes. The RSI and price are starting to show signs of longer term divergence. This divergence may be temporary and cancelled by the RSI beginning to trend upwards along with price off support from the lower trend line, however a divergence is a very strong technical signifier of trend reversal and demonstrates any future trade currently requiring a lot of risk management. Additionally, the RSI recently reached an overbought peak and, coupled with its most recent peak being lower may be signalling a slowdown in the trend. Furthermore, recent support from this lower trendline has not resulted in price movement reaching the upper trend level either signifying impending general downward pressure on price or general slow upward price movement. Finally, in March 2021 the 50 DMA, lower trendline and price converged, which could have resulted in more powerful price action towards the upper trendline but didn't, further demonstrating resistance to major price movement upwards (although the total maximum price movement upwards was about a good 17% nonetheless, signifying profitable scalping potential based on this trend).
BITFINEX:BTCUSDLong
by slip_stream
USDJPY-Weekly Market Analysis-Apr21,Wk3If you have been reading my analysis, you might be thinking USDJPY will be alike to EURUSD or GBPUSD. Well, not this time. USDJPY is in a unique situation where the daily chart is on a bullish trend, 4-hourly chart a weaker bull(which I will not take action) and 1-hourly a bearish trend. Knowing how to identify the trend helps a trader to determine if they are trading with the trend or against the trend. This information help traders to plan their stop and target better. I'm waiting to short USDJPY at 109.87 as long as the trade didn't break and close above 109.95.
Short
by RaynLim