BTC Possible Bullish Divergence On RSI
Hello Traders, the chart here speaks for itself. Since around January 2021, we have seen a clear downtrend on the RSI and after every rally to new ATH's, BTC was left with less and less momentum. Thus bringing us to where we are today.
If you look at the recent developments on the RSI, you can see the possible start of bullish divergence. Now, this is theoretical of course because the MAIN TREND is Bearish and the downside is expected; but I think it's vital to take note that if it happens to push past that resistance, a huge rally will come and that to me will be a clear sign of reversal and the Bull run continues.
If you look at the recent developments on the RSI, you can see the possible start of bullish divergence. Now, this is theoretical of course because the MAIN TREND is Bearish and the downside is expected; but I think it's vital to take note that if it happens to push past that resistance, a huge rally will come and that to me will be a clear sign of reversal and the Bull run continues.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.