Wanted to point out some hidden divergence on CCI and RSI. In addition we had a low volume breakout. This could be legitimate, but I'm still observing before purchasing in.
Key notes: 1) Korea is trading at a premium, gives weight to a legitimate breakout. 2) RSI/CCI showing bearish divergence 3) Low volume breakout.
I'm currently waiting to see how this consolidation period goes, as well as any potential action @ 11,600 before making a purchase decision.
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We have significant divergence happening on almost all charts, volume is lacking, a hanging man just appeared on the last 4 hour, and we're at a critical resistance level. Trade carefully. I've made a new chart you can click to interact with yourself.
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Additionally, if we turn on TD Sequential, and heikin ashi candles, we'll observe it's trigger 'Perfect 8 and Perfect 9' sell signals.
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BTC had an opportunity to begin correcting the divergence and was rejected. Please see snapshot:
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CCI still has another 10% or so it could run down, but we could be at the bottom, please see snippit for zones of interest, important to note that the volume right now is insane, and I don't recommend buying until it slows down obviously.
Key notes:
1)Shooting star daily close 2)Had clear bearish divergence past couple of days 3)If the double EMA zones don't hold, BTC is in serious trouble and looking back towards 6k.
Next day will be a big one, try to snag a good buy. Remember, trade safe, trade wise, and trade conservatively!
basically, we are going to see a lot of sideways trading for the next 5 to 7 days profit taking a slow walk down as it moves in range all the altcoin being in the red are an early warning sign that BTC is about to slow down and in due time correct.
even though you will hear all the altcoin investors whine about not being able to show there true value being pushed around by bitcoin collectively its the other way around altcoin always start to show positive signs when bitcoin is about to have an upward run, and before BTC downturn the altcoin will show developing growth issues development of downward triangles getting lock-in range slowly creeping down .
Just my observation
ant187
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@Jadtecnic, Interesting observation, I do go into detail quite often about the altcoin-btc forex correlation, so you very well might be onto something there, thanks for the comment!
Xenn77
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Though also skeptical about bull trap thong :)
Yet I believe the jump price of BTC is caused by CBoe have established their new contract on 16 February 2018, the price has jump significant eventhough with low volume since that day, yes?
Please light me up I have missed something, since I am a noob player.
ant187
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@Xenn77, It could be many factors I imagine, I'm sure that could play a part, I think its more to do with the bullish daily candle we had, but let's see what happens
Xenn77
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@ant187, ..... Hope nothing bad happen, since not planning to be another HODLER after BCH since 2 Month ago -_-
even though you will hear all the altcoin investors whine about not being able to show there true value being pushed around by bitcoin collectively its the other way around altcoin always start to show positive signs when bitcoin is about to have an upward run, and before BTC downturn the altcoin will show developing growth issues development of downward triangles getting lock-in range slowly creeping down .
Just my observation