4-hour RSI showing bullish divergence after oversold.
Historically this setup has resulted in a short squeeze and significant rally in the subsequent days (or weeks)
Historically this setup has resulted in a short squeeze and significant rally in the subsequent days (or weeks)
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The similarities between this current dump and the previous dump from 11.8k -> 6.5k are staggerring
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Wedge breaking
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Nice breakout from divergence but we have a possible bearish underpants formation on the 4-hour chart of BTC
Why bearish underpants? Shaped like underpants (haha its a triangle) and often takes a dump :D
Why bearish underpants? Shaped like underpants (haha its a triangle) and often takes a dump :D
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I got bearish a bit there and took a short on Bitcoin. However I'm long on many alts including EOS, XLM, BCH. Overall portfolio up.
Looks like BTC has broken its downtrend from 7100 and is putting in a floor. 5k scenario averted! (for now)
Looks like BTC has broken its downtrend from 7100 and is putting in a floor. 5k scenario averted! (for now)
