BTC.D Divergence Detected – Altcoin Window Ahead ?
Hello Traders 🐺
In the past few weeks, I decided to publish fewer ideas in order to step back, observe, and see what’s really going to happen in the market — especially in the Altcoin market.
Now I believe it's a good time to take a look at the chart and break down what’s most likely to happen:
As you can see on the weekly chart, we have a descending channel on the RSI, which means the relative strength of BTC.D is diverging from the BTC.D chart itself.
But why does this matter?
Let me explain:
As a trader, you should always follow the bigger picture. The higher the time frame you analyze, the more reliable your analysis becomes.
If you only follow lower timeframes like 4H or 1H, chances are high that you’ll get manipulated by the bigger players — because the market is extremely volatile and requires real discipline to survive and grow.
But what about the immediate short term?
📉
In my opinion, BTC.D is most likely about to test the 0.786 or 0.88 Fibonacci levels in order to form a double top pattern.
So we can expect a bit more downward pressure on Altcoins, and this area could be considered a great entry point if you’re planning your next move!
I hope you enjoyed this idea — and as always, remember:
🐺 Discipline is rarely enjoyable, but almost always profitable 🐺
🐺 KIU_COIN 🐺
source https://www.tradingview.com/chart/BTC.D/xMnEOCCq-BTC-D-Divergence-Detected-Altcoin-Window-Ahead/
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