STORM/BTC is forming bearish divergence on the 4-hour.

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STORM/BTC (Binance): STORM/BTC is printing bearish divergence on the 4-hour chart. My guess is it will retest the .786 fib level around 149 once more before moving up further. We can see it has failed twice to sustain buying above the 1 fib level, and the second attempt formed clear bearish divergence when compared to the first attempt. The 50 EMA (green) on the 4-hour should act in conjunction with the .786 fib level as a support area. Should we get a nice bounce off the .786, it could look to run to the 1.272 fib level around 182, or the 1.414 fib level around 191.

Reentry target:
0.786 fib level around 149.

Targets after reentry:
1 fib level around 163
1.272 fib level around 182
1.414 fib level around 191

--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.

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ملاحظة

Reentry target at the .786 fib level was hit!

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ملاحظة

1 hour chart perspective: