Today we have a great opportunity on the bitcoin on the 4h chart. Price is at the bottom of MA 200
And a divergence.
Bullish RSI (14) divergence, usually gives good signals. bitcoin tested lows today
The BTC/USD has reached The Strong support and we can see that the price has established a bullish
Divergence has formed on intraday time frames.
So we might see a bounce to the upside possibly targeting 5420.63$
Also Stochastics are about to turn bullish which is another confirmation signal of bullish
Blue RSI highlight shows movement before the divergence gets triggered. So get ready to pull the
Trigger
Monthly trend : down
Weekly Trend : down
Daily Trend : down
I question the validity of technical analysis in these infant markets with tiny market caps relative to the capital that is taking interest in the space.
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