Bitcoin bullish divergence and inverse H&S?!?!?
https://www.tradingview.com/x/JypmGw8D/
DID WE HIT OUR LOW POINT!?!?!?
I've noticed a bullish divergence on the Bitcoin charts using RSI and the 4hr candlesticks. A bullish divergence indicates upward price movement. In the above graph we seemed to bounce off the 50MA (Green Line) but I believe we are expected to continue the upward trend closer to $9,000+ in the coming day or so. The chart above shows a possible inverse head and shoulders pattern in formation. I'm predicting a short retrace back to the $8,000 after our move to $9k then back up to the sub $11k for mid term.
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BTS (Bitshares) address: Gooloo22
BTC address: 1FCyxyTvTmYy2RbZ5ctBUETxzBB1ycBE6R
ETH address: 0x974734F3e6A0654781a903321cEbd5617E97D968
LTC address: LctpgAEzLVKNhg5Lh6aomUc9KXeLKgeF5m
Disclaimer: This is not financial advice. Please trade at your own risk.
Nice observation man.. i think atleast for now we shouldn't past the head it may retest but the divergence is a nice sign of reversal especially as it's a higher time frame.
I agree. I spot H&S patterns often but I do tend to get ahead of myself on occasion. The divergence is a great trade signal as I see it giving me some great profits since I began trading. Thanks for the comment!