screpuh
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Siacoin hidden bullish divergence

BITTREX:SCBTC   Siacoin / Bitcoin
Sia might be getting ready for its next big leg up. Might dip a little bit more if BTC             decides to do its last corrective leg to 8500ish, but has huge potential upside anyway.
評論: It's breaking out to the upside, but the volume is low and the breakout looks unconvincing to me. I'm waiting till it breaks the new, third, added trend line and also for the RSI to cross the 50 level.

(4hr)

On the one hour time frame it also looks like it's retracing. RSI is descending and the MACD not yet in the green.

(1hr)
評論: Nice breakout. Waiting for a retrace.

(1hr)
評論: Siacoin broke out yesterday and is now re-testing the support line. Interesting to see what happens, but I think it depends what BTC will do. BTC looks like it's dropping because of the future settlement and alts are following.

(4hr)
please keep us updated!
+1 回覆
Anyone can correct me if i'm wrong, but for divergence you want to be consistent with the trend your comparing.

in your first image...if you compare the top of the price chart to the top of the RSI indicator trend you have there, they are both sloping top to bottom.

there is no divergence in that comparison as we see a symmetrical triangle formation on both the candlestick chart and the RSI chart.



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screpuh whoisthelorax
@whoisthelorax, you are right. Bullish divergence is measured by taking the lows of the price and the oscillator. What is saw was that the price was making higher lows (the lower line in the triangle) while the RSI is making lower lows.
Which means hidden bullish divergence. (the line on the RSI could better be placed as a support line instead of a resistance line, because i'm measuring the lows)
+1 回覆
what is your opninon on the first target?
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I hope your right. I use the 7, 77 and 231 moving averages to chart and it looks to be slowly gaining energy to burst up.
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screpuh Nour_Ali
@Nour_Ali, yea i think it will go up anyway. I'm not in yet, but have two alerts on the trend lines. If it breaks the upward trend line I will get in during the retest of this line. If it breaks downward, because BTC is doing more of its expected correction, I will wait and try to buy the dip. I will also try to keep this idea updated as time goes by.
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