Divergence spotted -- again! Is $BTC showing a potential top?
Diupdate
What does divergences tell you?
That while price action are making highers highs and higher lows, the buying pressure is decreasing steadily, which is almost always a signal for a reversal -- aka a bearish trend incoming.
Not since late Aug 2020 till early Oct 2020 did we see a slightly prolonged bearish trend stretching more than a month
And do you remember what happened when the bear trend gave way to this current bull trend?
BTC's price action nearly 6x from the lowly doldrums of 10k then..
..but this isn't the takeaway here.
So what is it?
Well, my fellow crypto degens, two words: 'Alt Season'.
That while price action are making highers highs and higher lows, the buying pressure is decreasing steadily, which is almost always a signal for a reversal -- aka a bearish trend incoming.
Not since late Aug 2020 till early Oct 2020 did we see a slightly prolonged bearish trend stretching more than a month
And do you remember what happened when the bear trend gave way to this current bull trend?
BTC's price action nearly 6x from the lowly doldrums of 10k then....but this isn't the takeaway here.
So what is it?
Well, my fellow crypto degens, two words: 'Alt Season'.
Catatan
"A divergence should not be used by itself" -- great advice! Thanks guys!Well Coinbase's IPO seems to have lifted the mood and raised the tide a little.
Bitcoin hit new ATHs!
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