The combination of upside regular divergence followed by an instance of reverse divergence to the downside, has the effect of continuing a trend. Once we see the reverse divergence fail to manifest while the Bitcoin price makes a new high accompanied by regular divergence – that is usually the sign that a high has been struck.
Bitcoin Price Analysis
Bitfinex 1-Hour Chart
From the analysis pages of xbt.social, earlier today:
The regular/reverse divergence dynamic is still at play and we wait for an indication of reversal – or – if this wave will surprise by just advancing beyond expectation. It certainly looks like a persistent advance in the making and if it holds above $230