BTCUSD - Bearish Divergence - Quick Short

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BTCUSD 4hrs Bitstamp showing bearish divergence, RSI is still in oversold region a bit.
It will try to bounce of the fib levels.

Check out the bottom blue horizontal line on RSI indicator, once rsi touches that, it should indicate the bottom of the dip and move back up again.
交易進行: BTCUSD continues dipping with progressive increase in selling volume.
RSI however has returned from oversold on 4hrs timeframe.
I expect it to continue dipping as there is more selling pressure in market.
交易進行: So BTC had a sharp fall. Selling Volume looks good too. Next few candles will be interesting.
RSI has touched the bottom blue line for now in 4hrs timeframe

However, its still resting over ichimoku cloud , hasn't broken it. So it can bounce up from here.

It has formed a double top but will it break the neck line?
交易進行: And here we go. Huge BTC drop. Patience pays off.

Double top formation in 1day time frame, broke the neck.

Candle is lying at the bottom of kumo cloud in 4hrs frame.

RSI heading in oversold region.

Bottom should should be 2250 if it dips further from here
交易結束:目標達成: Closing this for now . 1st target of 2500 was hit.
Price bounced off bottom of ichimoku cloud. Price returning from oversold region.

Will reassess later.
手動結束交易: BTCUSD price has followed exactly as I predicted. If anyone of your followed this graph, might have been pretty fruitful :)
thanks bro, appreciate it
Hi Price is going up reaching USD 2800 it going to go down or keep going up ?
If Up then what will the range ?
If down then till what price ?
sniperz Crypto-King
I expect some strong resistance at 2850 as price had a difficult time to break that last time. If it breaks that easily then will have to reassess.

In my opinion, price should face a resistance between 2800 - 2850 and then deflect downwards. RSI still isn't near oversold region nor my blue line.

Keypoint would be 2500, if it breaks 2500 then 2250 should be the bottom
@sniperz, Thanks a lot this is really Helpful... I got feedback it could go down upto 1900 and if it breaks that it might reach 1250 or so...
Do you foresee 1900 or 1250 as the next down turn or it will bounce back at 2500 / 2250 level ?
sniperz Crypto-King
I don't see BTC going that much down unless there is some bad press or unless it breaks 2250 level. At that time will have to reassess the chart.
@sniperz, Thanks Now Since Bitcoin has crossed 2900 are you planning to reassess ?
Should I invest or wait for the down turn ?
sniperz Crypto-King
Until it breaks the all time high with a clear breakout, I would say we have a good chance of a short.
Chart still shows a lot of resistance in this region. There is still bearish divergence.

Long term trend is bullish, but a correction is expected here . It could lead to formation of double top to 2600- 2500 level
Where do you see the bottom retracement?
sniperz Encephalo
Its bouncing on the fib levels currently. It would be interesting to see if breaks the orange trend line from here.
If it breaks 2500 price barrier then I would expect 2250 to be the bottom of this correction.
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