Bitcoin pushing for new highs? or is this bearish divergence
As you can see we have been putting some nice waves in on the 1 hour with a strong trend since the sub $7000 levels & this is expected to continue
however it is important to be aware of both options especially after a strong rally.
Bullish scenario -
We start impulse to 11k and meet Resistance
oversold macd
1 2 3 4 5 impulse wave
Bearish scenario -
We have support failure & head for $8000
Bearish divergence & double top
expanded flat (b wave exceeds a wave)
Watching out & make plans for for both!
Stay profitable out there!
Dalinhood--
Thank you for taking the time to checkout my technical analysis let me know if you want me to keep them coming in the comments!
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stay profitable out there! :)
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Thanks Dalin, had never heard of the expanded flat B wave before...how does this fit into the more general trend of "higher highs"?
Prophetic, Dalin. You'll always get my upvote with calls like this :)