Monthly RSI Hidden Bearish Divergence confirmation.
Lets not forget this little bad boi either!
Hidden divergence is indeed considered an indication of trend continuation, but have a look at the bigger picture here.
Eeeeeeven if BTC remains bullish on the macro trend, this confirmation of hidden bearish divergence could see a comparatively massive pullback. This would fit the "Expanded Flat" paradigm mentioned in my other post today. After a redonkulous 91 level on the monthly RSI one could expect the old dog might be a bit clapped out and in need of a rest.
With 2 touches on each side, Bitty appears to be in a positively gigantic Ascending Broadening Wedge. A 3rd tap on macro trend support due to Hidden Bearish Divergence could see the asset return to 15 or 20k... or LESS!
The Ascending Broadening Wedge is known to be a continuation pattern, so if this scenario plays out the measured upside move is astronomical. But honestly, this will take years and years and years. A lot can happen to change the course of history in that time, so who knows!?
Food for thought anyway.
Hidden divergence is indeed considered an indication of trend continuation, but have a look at the bigger picture here.
Eeeeeeven if BTC remains bullish on the macro trend, this confirmation of hidden bearish divergence could see a comparatively massive pullback. This would fit the "Expanded Flat" paradigm mentioned in my other post today. After a redonkulous 91 level on the monthly RSI one could expect the old dog might be a bit clapped out and in need of a rest.
With 2 touches on each side, Bitty appears to be in a positively gigantic Ascending Broadening Wedge. A 3rd tap on macro trend support due to Hidden Bearish Divergence could see the asset return to 15 or 20k... or LESS!
The Ascending Broadening Wedge is known to be a continuation pattern, so if this scenario plays out the measured upside move is astronomical. But honestly, this will take years and years and years. A lot can happen to change the course of history in that time, so who knows!?
Food for thought anyway.
