Hello! I first want to thank all of my followers for their likes, comments and support! I learn just as much from your comments and your charts as you do (hopefully) from mine. I will be the first to admit I get the charts wrong often! However that is the nature of the beast.
Today I present a very interesting bearish 3day divergence that is currently printing. Just like at the bottom of the bear market we made lower lows while the rsi made higher lows, so right now we are doing just the opposite. As price grinds up on low volume the RSI is printing lower highs as price prints higher highs.
What does this mean? Well it means the trend is weakening and a significant pull back is ahead. I tried to time the pull back earlier this week and was liquidated as I shorted with 10 leverage and got rocked on that candle to 9500. Anyways! That should be a lesson to you guys of what happens if you play with fire, you get burned!
Anyways, I feel quite comfortable with this idea and I believe significant downside is ahead. Selling spot (non leverage) is probably a good idea anywhere from here to 9600.
If you found this useful please give me a like and a comment and if you feel like donating to help me rebuild my stack after this latest liquidation debacle I will leave my gemini address below.
All the best,
Red Boar
14anmVd2NFrx3iD3BzfZq2Ru4EvYBsnnRN
Today I present a very interesting bearish 3day divergence that is currently printing. Just like at the bottom of the bear market we made lower lows while the rsi made higher lows, so right now we are doing just the opposite. As price grinds up on low volume the RSI is printing lower highs as price prints higher highs.
What does this mean? Well it means the trend is weakening and a significant pull back is ahead. I tried to time the pull back earlier this week and was liquidated as I shorted with 10 leverage and got rocked on that candle to 9500. Anyways! That should be a lesson to you guys of what happens if you play with fire, you get burned!
Anyways, I feel quite comfortable with this idea and I believe significant downside is ahead. Selling spot (non leverage) is probably a good idea anywhere from here to 9600.
If you found this useful please give me a like and a comment and if you feel like donating to help me rebuild my stack after this latest liquidation debacle I will leave my gemini address below.
All the best,
Red Boar
14anmVd2NFrx3iD3BzfZq2Ru4EvYBsnnRN
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