I was going to talk about this rising wedge tomorrow after the weekly close but I have better stuff to talk about then and I was asked about it today.
https://twitter.com/opchecksig/status/1218531826245021698
https://twitter.com/opchecksig/status/1218531826245021698
Twitter
Zavan
$XBTUSD 1D IMO this is a reversal, the price has been making higher highs and higher lows, it's an uptrend. So a break of this rising wedge would probably lead to a simple retracement: I don't think it retraces further than the marked fibs (8.1-8.4k).
I also should say that BTC has a big history of breaking out of rising wedges and starting an even more vertical uptrend. Just something to keep in mind.
Zvn’s Charts
I also should say that BTC has a big history of breaking out of rising wedges and starting an even more vertical uptrend. Just something to keep in mind.
I'll sleep before the close, but keep this in mind if it does close above 9165.
Zvn’s Charts
I was going to talk about this rising wedge tomorrow after the weekly close but I have better stuff to talk about then and I was asked about it today. https://twitter.com/opchecksig/status/1218531826245021698
Twitter
Zavan
$XBTUSD 4H Got some small bids filled around 8.5k, but I think it may grind through this first support and into the red area (8-8.2k). I have bids ready. The trend is your friend. https://t.co/m36AXznsKD
Zvn’s Charts
https://twitter.com/opchecksig/status/1218526016563548161
Tip: divergences are like accumulating pressure or a rubber band, it means that a movement is extending beyond the mean without the volume (when OBV) or momentum (when (Stoch)RSI) to support continuation, and will probably snap back.
A bullish divergence is just the reverse, there's pressure, there's momentum or volume for a stronger movement, but the price is being held back, probably not for long.
Your job as a trader is to identify these imbalances and take advantage of them, this is why I like divergences and you see me talking often about them here.
A bullish divergence is just the reverse, there's pressure, there's momentum or volume for a stronger movement, but the price is being held back, probably not for long.
Your job as a trader is to identify these imbalances and take advantage of them, this is why I like divergences and you see me talking often about them here.
Zvn’s Charts
https://twitter.com/opchecksig/status/1218882529710788608
Maybe just wick down there since 8.4k is actually good support.
https://twitter.com/opchecksig/status/1219242492270403590
https://twitter.com/opchecksig/status/1219242492270403590
Twitter
Zavan
$XBTUSD 1D StochRSI and OBV bear divs. Goes to show that this last impulse (the last big green bar) was more than bulls could actually sustain rn (the impulse before that one had some strong convergences). I still think it retraces into the red area (8-8.2k)…
Zvn’s Charts
2 charts. https://twitter.com/opchecksig/status/1221783599118200832
Or it just blows right through it, guess that works too lol