The same pattern we've been spotting on the Altcoins vs Bitcoin trading pairs that are growing really strong, is also coming up but late on the BTCUSD chart.
Please, allow me to entertain you for a few minutes...
First, we have a low set 12-May followed by a lower low 18-June.
This is accompained by a strong increase in trading volume.
We also get divergence with the indicators, in this case we have the RSI but the MACD, Stochastic and others would also show the same bullish divergence.
After this initial pattern what follows is a break above EMA10 and then finally a jump that sends prices as high as EMA300/MA200 or higher based on what we are seeing coming from other charts.
This is all there is...
Patience is key.
Namaste.
Please, allow me to entertain you for a few minutes...
First, we have a low set 12-May followed by a lower low 18-June.
This is accompained by a strong increase in trading volume.
We also get divergence with the indicators, in this case we have the RSI but the MACD, Stochastic and others would also show the same bullish divergence.
After this initial pattern what follows is a break above EMA10 and then finally a jump that sends prices as high as EMA300/MA200 or higher based on what we are seeing coming from other charts.
This is all there is...
Patience is key.
Namaste.
Note
I will share a new trade idea soon with an update about the bottom...You can revisit these meanwhile...
Note
Notice the long lower shadow/wick on the last candle...Do you think we will get a recovery?
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