Hi guys!
Alright, we will get straight to the point. There's a falling wedge on the 4 hour chart, which means that there can be a bullish reversal. But, there's something that can be quite ambiguous. You can clearly see that the chart is picturing something that could look like a bullish reversal. But, the Crypto Fear & Greed Index has gone from 29 fear, to 25 extreme fear in 1 day. And here's where it gets interesting.
In my previous post I told everyone that when most of the "investor" are fearfull, and picturing a bearish scenario. It means that YOU as a trader don't have an edge anymore, because everyone is saying the same thing. So maybe one of the "hidden" confirmations are the RSI results. If you look at the RSI, and at the price action. You can clearly see that there is a divergence.
Price is making lower lows but the RSI isn't. And since everyone is shitting their pants, this may be the perfect opportunity for Bitcoin to do the "unexpected".
Conclusion? Wait for a confirmation, both for the breakout downwards or upwards.
DON'T FORGET TO LIKE THIS, if you want to support this idea😊
Xie Xie ni✌️
Alright, we will get straight to the point. There's a falling wedge on the 4 hour chart, which means that there can be a bullish reversal. But, there's something that can be quite ambiguous. You can clearly see that the chart is picturing something that could look like a bullish reversal. But, the Crypto Fear & Greed Index has gone from 29 fear, to 25 extreme fear in 1 day. And here's where it gets interesting.
In my previous post I told everyone that when most of the "investor" are fearfull, and picturing a bearish scenario. It means that YOU as a trader don't have an edge anymore, because everyone is saying the same thing. So maybe one of the "hidden" confirmations are the RSI results. If you look at the RSI, and at the price action. You can clearly see that there is a divergence.
Price is making lower lows but the RSI isn't. And since everyone is shitting their pants, this may be the perfect opportunity for Bitcoin to do the "unexpected".
Conclusion? Wait for a confirmation, both for the breakout downwards or upwards.
DON'T FORGET TO LIKE THIS, if you want to support this idea😊
Xie Xie ni✌️
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.