New week, new money flowing in. On our way to $400.
Strong buy and sell signals on the simple moving average (12h).
(BITCOIN PRICE INDEX $376.57)
Strong buy and sell signals on the simple moving average (12h).
(BITCOIN PRICE INDEX $376.57)
Does the steadily increasing bearish divergence on 1hr and 4hr charts not concern you?
https://www.tradingview.com/x/a8zjxHmI/
If Bitcoin is going to get to $400 on this move, then it is going to require a shit ton of retail investors stupid enough to gobble up $380+ sell walls, only to run into a barrage of selling pressure around $400 mark.
The thing about divergences on technical indicators is that they're all lagging in terms of displayed information. What looks like bearish divergence now may get destroyed, but there is no way of knowing until after the fact. The previous run up to ~$500 had a ton of bearish divergences along the way in those time frames, and they were blasted through. If the divergences currently fit the picture with other factors, I'd take them into consideration, but I wouldn't pay much attention yet..