Triple bearish divergence on the DXY Dollar Index via the RSI, MACD and OBV, in favor of the S&P 500 and BTC.

By FreedomBuilder | Trading The King of Crypto | 23 Aug 2022

The most important bearish divergence is the OBV (On Balance Volume) which shows us that the price is rising while the volumes are falling.

We had bearish divergences on the RSI and the MACD but without the OBV so no confirmation.

We are approaching the beginning of September which often ends in the red on the BTC and the traditional stock market during a Bear market, and if it starts to short strongly to anticipate we can have a big hunt for shorts in the north, and finally to check if it's a real up trend or a fake one, then to monitor volumes, news, correlation and other technical indicators.

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Bitcoin (BTC) Technical Analysis Tether (USDT) Binance Exchange Bear Market

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FreedomBuilder

Crypto investor, trader & holder, looking for to build my freedom with the Blockchain technology.

Trading The King of Crypto

Technical analysis of bitcoin and the crypto market. - Cryptos are correlated to BTC. - BTC is correlated to the S&P500 - The S&P500 is the largest US market, it can be called the Bitcoin of the stock market. If we can follow the BTC price action we will be able to follow all the other crypto projects, when to buy and When to sell???