4h Triple Top & Divergences
There is noticeable difference between a BITFINEX and a BITSTAMP 4h chart.
Bitfinex:
Divergences on RSI and Stochastic suggests the bullish outlook has weakened while prices moved sideways on the 4 hour chart
MACD divergence shows momentum has weakened from wave 3 to 5. Another short-term bearish signal.
Bitfinex:
- triple top is flat
- wave 1 does not overlap wave 4 (blending the 2 exchanges price does not overlap therefore, I consider this a valid 5 wave count)
- see user chessnut's 4h BITSTAMP chart linked in related ideas below
Divergences on RSI and Stochastic suggests the bullish outlook has weakened while prices moved sideways on the 4 hour chart
MACD divergence shows momentum has weakened from wave 3 to 5. Another short-term bearish signal.
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