Bitcon Bearish Exaggerated Divergence?


Now seeing bitcoin double toping, it looks like we could be seeing a divergence of a regular or a exaggerated divergence. Now this doesn’t effect bitcoin in the long run, but shows that the beat down shorts compared to longs looks like a long squeeze might be underway.

-An investment firm increased its bitcoin hold over 16k bitcoin

-Now the bearish exaggerated divergence can be seen with the RSI slowly dropping as the price of bitcoin rises, so could be a perfect time to create a short. If you are long sL would be around 10801
-MACD is getting tight again looking like a turn over could happen
-Theres high sell volume compared to buy volume , which could explain the trend in the rsi and tighting of the MACD . It doesn’t explain the price action besides getting some extra longs before the dump.
-We do have our support at 10643-10533. After that I will have to see past supports and redraw my chart.
-DXY is holding its support and could be double/triple bottoming.
-Grayscale is on the rise and RIOT is on downtrend, but if btc drops a target of RIOT is at 1.60ish or low 1.80.
-Ethereum is just going sideways, DeFi hype done?
-YFI is dropping cause sell the news on coinbase
-PokaDot looks like a cross over on the MACD and if btc dumps could see prices head towards 4.5-4.6

Final thoughts
-Its best to look for the volumes in btc to pickup on the buy side, yet the trend upwards with rsi dumping looks like a correction is coming soon.