My apologies guys. My previous post was mistakenly entitled "Bitcoin Hidden Bullish Divergence" which should've been this chart.
Ok here it is...
The price bottom on the 10th of December 2018 was a Higher Low compared to the lowest price of March 20, 2017 and the corresponding RSI indicator had a divergent movement direction creating the 1st Hidden Bullish Divergence on this weekly chart.
The 2nd Hidden Bullish Divergence that could potentially play out is created by plotting the red candle from the 22nd April 2019 to the lowest red candle of Sept. 23, 2109 (which could potentially be the bottom of this retracement), hence creating the said divergence.
The 1st Hidden Bullish RSI Divergent Line was showing a downward or descending level but was actually a signal for future upward price action.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get stopped out at your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
Ron (The Intrepid Trader)
Ok here it is...
The price bottom on the 10th of December 2018 was a Higher Low compared to the lowest price of March 20, 2017 and the corresponding RSI indicator had a divergent movement direction creating the 1st Hidden Bullish Divergence on this weekly chart.
The 2nd Hidden Bullish Divergence that could potentially play out is created by plotting the red candle from the 22nd April 2019 to the lowest red candle of Sept. 23, 2109 (which could potentially be the bottom of this retracement), hence creating the said divergence.
The 1st Hidden Bullish RSI Divergent Line was showing a downward or descending level but was actually a signal for future upward price action.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get stopped out at your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
Ron (The Intrepid Trader)
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Bitcoin Weekly Chart Falling Wedge Price Projection
