In dark blue, you can notice a bearish flag pattern forming with multiple bounces off the horizontal baseline of support and what appears to be a series of lower highs underneath a downward sloping resistance line.
A possible Macro H&S pattern would coincide with a blow-off top at the launching of Goldman Sachs bitcoin futures contracts, similar to late 2017 CME BTC futures contracts calling the tippy top. I have drawn a bearish hypothetical scenario in red.
On the RSI there is a series of higher lows indicating a potential bullish divergence taking place. A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again—often a bullish divergence marks the end of a downtrend.
On the KST there were recently two bullish crosses and it looks like a higher high may be created for the first time since the blow-off top in March/April.
A possible Macro H&S pattern would coincide with a blow-off top at the launching of Goldman Sachs bitcoin futures contracts, similar to late 2017 CME BTC futures contracts calling the tippy top. I have drawn a bearish hypothetical scenario in red.
On the RSI there is a series of higher lows indicating a potential bullish divergence taking place. A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again—often a bullish divergence marks the end of a downtrend.
On the KST there were recently two bullish crosses and it looks like a higher high may be created for the first time since the blow-off top in March/April.
Nota
It's looking more and more like a descending triangle breakdown / bearish flag pattern...
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.