Overall Trend - ⟰
Oscillator making lower highs where price made higher highs - representing bearish divergence.
Oscillator making lower lows and prices are still borderline lower low - representing multiple bullish hidden divergences.
Divergences are easy to spot. But, they are often overridden by hidden divergence which comes soon after. This happens because when prices are trading high, oscillators such as RSI do not have room to go up when they are in overbought region - this results in divergence. But, when oscillators make lower lows when price still makes higher lows (which means, oscillator has dropped more than price) - implying it is making more room for oscillator to go up now than before. This creates hidden divergence in prices.
My opinion. Until 420 holds, we are still in an uptrend and bull market.
Oscillator making lower highs where price made higher highs - representing bearish divergence.
Oscillator making lower lows and prices are still borderline lower low - representing multiple bullish hidden divergences.
Divergences are easy to spot. But, they are often overridden by hidden divergence which comes soon after. This happens because when prices are trading high, oscillators such as RSI do not have room to go up when they are in overbought region - this results in divergence. But, when oscillators make lower lows when price still makes higher lows (which means, oscillator has dropped more than price) - implying it is making more room for oscillator to go up now than before. This creates hidden divergence in prices.
My opinion. Until 420 holds, we are still in an uptrend and bull market.
Kommentera:
Support at 420 is looking more stronger than ever.
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