After a crash I always look for the second or third touch of bull-divergence on RSI.
Right now we have 2-touches on the one hour.
two small touches on 4-hour.
This is enough for a scalp long. Dont expect this bottom to last or hold but its enough to form a temporary bottom.
50% account long here. Stops a few hundred $ below.
Right now we have 2-touches on the one hour.
two small touches on 4-hour.
This is enough for a scalp long. Dont expect this bottom to last or hold but its enough to form a temporary bottom.
50% account long here. Stops a few hundred $ below.
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Boom. Fomo inc.
Hammer soon.
Hammer soon.
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If you scalped this, this is a good take profit point
reload on the next divergence touch.
reload on the next divergence touch.
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Watch out for bearish underpants pattern
Which I'm told by my friend @sandipan.mch is Wykcoff redistribution, not pants.
Which I'm told by my friend @sandipan.mch is Wykcoff redistribution, not pants.
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@Sinuosity has pointed out in private message the third underpants has lots of volume and looks different to the rest.
I agree ^_^
It also has significant 4hr divergence on RSI
I agree ^_^
It also has significant 4hr divergence on RSI
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Third touch of four hour Rsi bullish divergence now occurring
Shorts are piling up finally. They always get bearish near the bottom
Shorts are piling up finally. They always get bearish near the bottom
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Chart analysis continued over here:
Once everyone has sold, supply is exhausted and prices can rise (or attempt to)