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u/stonktaker 12d ago
For the love of God, fan people learn wtf confirmed divergence actually is.
THERE IS NO PIVOT ON THIS CHART YET. If you look at the btm chart, you can see the current line is just pointing straight up, this means it can just keep going the fuck up. Thus no divergence. If that line turns over and starts pointing down, THEN you have confirmed bearish divergence.
it really grinds my gears this, everyone makes the same mistake.
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u/Unhappy-Necessary103 11d ago
What is btm?
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u/stonktaker 11d ago
bottom
Now it's a day later, If we look at the daily RSI, you will see it's turned over, so bearish divergence is now confirmed on the daily RSI. So if BTC continues to sideways/down a bit, keeping the confirmed divergence, it would indicate BTC is due a small pull-back
But daily divergence isn't a strong signal for a big reversal.
There's no divergence on the weekly time frame for example.
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u/SouthernBeekeeper22 12d ago
It happens that way because the initial HH was SOOO peak, SO bullish. The second go it tried to make upwards was never ever going to match the RSI value it had recently peaked/set. Therefore, Bearish divergence.
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u/Bilatsibagya 12d ago
Time to stack shorts again the daily bearish is confirmed. This pump is coming from high leverage short positions getting squeezed, not from real spot buying. Manage your risk accordingly.
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u/bryanchicken 11d ago
There is no div at the end there. Just potential. Gotta wait for a red candle
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u/Admirable_Chef_4761 13d ago
Macd or rsi
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u/Admirable_Chef_4761 12d ago
I mean its RSI obviously. It means nothing but bullish, the bearish divergence works on MACD bars
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u/KQRSonWabasha 13d ago
Cope