Bitcoin Price Volume Ratio Analysis Update Oct 21st 2018
Well a peak has formed on the price volume ratio which is looking like the hidden bear div will play out. I'm leaning toward this playing out and possibly creating a new bullish divergence if the price falls to test 6k again.
1. Level price had to have reached to invalidate hidden bear div by creating a peak in price above the ~$8200 level.
2. Peak in price occurring in this region will validate the hidden bear div.
3. a) This region could have previously invalidated the hidden bear div, if the last dip had been deeper and price hadn't climbed back to current levels.
b) If the hidden bear div plays out and the price falls below the previous price dip at ~$6350, the formation of a bullish divergence is a strong possibility. In other words a dip that doesn't breach 6k and is below that threshold most likely will form a PVR bull div. A dip breaching 6k most likely will have a large effect on PVR and most likely will invalidate the potential bull div.
TLDR Another dip to test 6k again could signal a good reversal.
1. Level price had to have reached to invalidate hidden bear div by creating a peak in price above the ~$8200 level.
2. Peak in price occurring in this region will validate the hidden bear div.
3. a) This region could have previously invalidated the hidden bear div, if the last dip had been deeper and price hadn't climbed back to current levels.
b) If the hidden bear div plays out and the price falls below the previous price dip at ~$6350, the formation of a bullish divergence is a strong possibility. In other words a dip that doesn't breach 6k and is below that threshold most likely will form a PVR bull div. A dip breaching 6k most likely will have a large effect on PVR and most likely will invalidate the potential bull div.
TLDR Another dip to test 6k again could signal a good reversal.
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