AndyTheKing

DUSK/BTC - Divergences everywhere! Can it break out?

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AndyTheKing تم تحديثه   
BINANCE:DUSKBTC   Dusk Network / Bitcoin
DUSK is setting up for a nice trade despite the bearish market structure. Can the bulls push it up higher? I think it's possible.

My reasoning:

  • Structure: Falling wedge chart pattern getting very tight.
  • Divergence: Confirmed div in histogram , divs in willy and RSI.
  • Volume: OBV is strong, showing a lot more buyers than sellers despite the falling price. Divergence since late November.
  • VPVR: Below the POC, however the notch above coupled with the strong volume coming in I think we can fill it.

Falling wedge pattern (stockcharts): school.stockcha...ts.com/doku.php?id=chart_a...

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The answer is no! Despite the incredibly bullish setup, there was absolutely no follow through and we lost support once BTC started gaining momentum. An altcoin trader's life ;-)


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