Massive bullish divergence present in GameCredits GAME/BTC 09/14/2017

in crypto •  7 years ago  (edited)

GameCredits has a very clear bullish divergence present on the charts. RSI is slowly creeping up and price support is holding at 36K satoshi. We could see one more test of that support before moving up. Coupling what I see on the charts is some excellent news that will be coming out in the near future for GameCredits, so I expect a retest of the ATH (~0.002) and very likely possible new highs.

Weekly has a hidden bullish divergence present on RSI

Although we are under RSI 50 on both daily and weekly timeframes, it could turn out to be a great trade.

My previous call in July turned out to be close to an intermediate bottom (topping out at 0.00105), whereas this one appears to be close to bottom on a larger scale.

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rather unconventional way to find divergence

the usual way to look for it - between the price peaks vs the indicator peaks during uptrend and the bottoms vs bottoms during the downtrend

the 2nd chart looks more like a long-term uptrend

  ·  7 years ago (edited)

The way you've described is how one finds a regular divergence. The chart you've linked shows hidden divergences, as described here: https://www.babypips.com/learn/forex/hidden-divergence
I agree that a valley hasn't yet formed on the RSI to indicate that the move is over, so it remains to be seen if that hidden divergence remains that way or gets wiped out.

Either way, there's definitely a long term uptrend at play :)