ETH/BTC daily: Hidden Divergence / Trend Reversal

24 de out. de 2021

Looking at the 50-day linear regression channel on the ETH/BTC dailies, there is a clear downtrend.
Although price had a break-out of this channel to the upside, we still see lower highs.
While we're seeing lower highs on the price chart, we also see higher highs on the commodity channel index.
These are clear signs of a hidden divergence. A hidden divergence is always an indicator for a possible trend reversal.
And since RSI is still not overbought (52.77), there's potential for the price to reverse and move up to the monthly pivot point at 0.071586

28 de out. de 2021

Trade fechado: objetivo atingido