Just demonstrating a bearish divergence that has taken place on BTC. Clearly much higher high's on price while the oscillators are collectively lower - the only outlier being the MACD, yet it is also mirroring this signal through the histogram beginning to cup over to the downside.
I believe this is a good place to exit the previous trade longing the Bullish Divergence. Light red is medium risk profit collection, dark red is greedy profit.
I am still majorly bullish on BTC in the long run - however, there has to be a pullback after 9 days on consistent gains totally almost %30 gains depending on your entry price.
Ideally BTC will pull back below the local minimum of $22,200 creating a lower low on price yet a much higher low on the oscillators forming yet another major bullish divergence from which the market can peruse a confident push forward.
I believe this is a good place to exit the previous trade longing the Bullish Divergence. Light red is medium risk profit collection, dark red is greedy profit.
I am still majorly bullish on BTC in the long run - however, there has to be a pullback after 9 days on consistent gains totally almost %30 gains depending on your entry price.
Ideally BTC will pull back below the local minimum of $22,200 creating a lower low on price yet a much higher low on the oscillators forming yet another major bullish divergence from which the market can peruse a confident push forward.