Demonstration of Divergences on Bitcoin Chart
This is a quick demonstration of Divergences that can appear in the price action.
Divergences are termed as the condition when the price action of the asset becomes asymmetrical to the RSI of the price action.
In simple words, RSI shows the Relative Strength of the asset and if the RSI 'the strength' is not aligning with the price action, then we should be cautious because it might hint that the current trend is getting weaker and can flip in opposite direction in near future.
Currently, we're having Bearish Divergence on Bitcoin Price Action and due to this, you see a correction.
Muneeb
#SyedMuneebAli
Divergences are termed as the condition when the price action of the asset becomes asymmetrical to the RSI of the price action.
In simple words, RSI shows the Relative Strength of the asset and if the RSI 'the strength' is not aligning with the price action, then we should be cautious because it might hint that the current trend is getting weaker and can flip in opposite direction in near future.
Currently, we're having Bearish Divergence on Bitcoin Price Action and due to this, you see a correction.
Muneeb
#SyedMuneebAli
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.