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Shani Whitmarsh VVcy
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$BTC same pattern but at different time frames will btc follow same pattern for weekly time like 1 minute time frame
$BTC
The pattern visible in your screenshot is a descending wedge, which is typically characterized by a series of lower highs and lower lows forming a converging price action. This is considered a bullish reversal pattern when it occurs after a downtrend, as it suggests that the selling momentum is slowing down, and a potential breakout to the upside may occur.
The RSI (Relative Strength Index) being at 41.51, which is below the neutral 50 level, indicates that the asset is currently in bearish territory but isn't yet oversold. If the price breaks above the wedge's resistance line, it could signal a bullish trend reversal. Conversely, a breakdown below the wedge might lead to further bearish movement.
In this case, watch for a breakout above the wedge as a potential buy signal.
you could indeed be spotting a bearish divergence. Divergence happens when the price action and an indicator, like RSI, move in opposite directions.
From the image:
The price seems to be making lower highs (the peaks in the price action are descending).
However, the RSI indicator is not making similar higher peaks, which can suggest a bearish divergence.
Bearish divergence signals that while the price may still be rising or holding steady, the underlying momentum is weakening, often indicating an upcoming reversal or a pullback in price. So, even if a descending wedge is traditionally bullish, this divergence might suggest that the bulls could be losing steam.
Keep an eye on both the wedge breakout and whether the RSI continues to weaken for confirmation.
The pattern visible in your screenshot is a descending wedge, which is typically characterized by a series of lower highs and lower lows forming a converging price action. This is considered a bullish reversal pattern when it occurs after a downtrend, as it suggests that the selling momentum is slowing down, and a potential breakout to the upside may occur.
The RSI (Relative Strength Index) being at 41.51, which is below the neutral 50 level, indicates that the asset is currently in bearish territory but isn't yet oversold. If the price breaks above the wedge's resistance line, it could signal a bullish trend reversal. Conversely, a breakdown below the wedge might lead to further bearish movement.
In this case, watch for a breakout above the wedge as a potential buy signal.
you could indeed be spotting a bearish divergence. Divergence happens when the price action and an indicator, like RSI, move in opposite directions.
From the image:
The price seems to be making lower highs (the peaks in the price action are descending).
However, the RSI indicator is not making similar higher peaks, which can suggest a bearish divergence.
Bearish divergence signals that while the price may still be rising or holding steady, the underlying momentum is weakening, often indicating an upcoming reversal or a pullback in price. So, even if a descending wedge is traditionally bullish, this divergence might suggest that the bulls could be losing steam.
Keep an eye on both the wedge breakout and whether the RSI continues to weaken for confirmation.
$ORDI any one please give me sensible advice, should wait for entry price to exit or suggest me stoploss for the trade which is higher swing or something.
$ORDI I am in short position in loss should I hold or leave the market
hold
51%
leave
49%
97 votes • Voting closed
$NOT if not dips from is previously ATH it will bearish so stop-loss there or close trade. otherwise it is bullish
$NOT fuxk all.those who say it will not go after 0.015. I closed my trade. otherwise I would have been in millions. you son of bitch
one dollar game for.just 0.01 usdt now.