There is reversal divergence (RSI) on the 4hr, and the daily (green line)
However…
There is also hidden bearish divergence as well.
And this is looking like a 90* triangle… so far
Normally reversal trumps hidden but the reversal divergence here is weak.
So…
Even though this area is a reasonable buy zone considering 68 high, it’s also risky. The only reason I would buy here is because I think BTC is going to +70k, which I’m not sure it is. Yes, I did buy some, from 42-45, but I sold a lot at 49-51, because the reversal is weak.
53 local top
I’m looking 36-42
However…
There is also hidden bearish divergence as well.
And this is looking like a 90* triangle… so far
Normally reversal trumps hidden but the reversal divergence here is weak.
So…
Even though this area is a reasonable buy zone considering 68 high, it’s also risky. The only reason I would buy here is because I think BTC is going to +70k, which I’m not sure it is. Yes, I did buy some, from 42-45, but I sold a lot at 49-51, because the reversal is weak.
53 local top
I’m looking 36-42
