cryptobell
Short

Qtu/btc Bearish Divergence

BITTREX:QTUMBTC   Qtum / Bitcoin
As much as I love this coin I see bearish Divergence . DYOR and Im not a pro but finding divergence helps you find a strong or weak trend .
It's not very reliable to draw trend lines that touch the ends of long wicks like that, since longer wicks usually indicate price being rejected at those levels and you don't want to use bad data in your analysis. Redraw the trend line while ignoring those rejected levels and you will see that actually the price is testing the resistance, and given the "W" that has formed (double bottom), it seems more likely that actually a breakout is occurring.

The decline in momentum is what is causing the indicators to disagree with price, but that's only because that pole is bigger than anything else on the chart.

Also, the OBV did not show any decline, which also reduces likelihood of a downtrend happening
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@ptrckwu, Thank you for the knowledge and I noted it and seems your correct that its testing the resistance .
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use MACD not RSI...
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cryptobell honeywater
@honeywater, to find divergence ?
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