Bitcoin Bullish Divergence Playing Out!!!
I mentioned the other day that we BTC was looking to be going in the direction for a bullish divergence pattern, which signals a trend reversal and since we have been in a short term hard downtrend (shown by heavy 1-2-3 move down) we are looking at a bullish reversal! There are a couple things we really have to watch to make sure this fully confirms, the most important being on the Stoch RSI, we don't want to see a sharp bear crossover. Looking for the blue to see some good separation from the orange and we want to keep seeing this upward direction coming from the blue. The other big thing we have to keep an eye on is the pivot points, we are directly below the pivot level with us wicking off earlier and at some point soon like the next day or two we want to see a strong push to regain this level and to further the bullish momentum. Checking out the MACD we are still a bit away from a bullish cross and a regain of the midline, but we are seeing some positives like the blue MA starting to slightly curl with the orange coming MA towards the blue MA, we also are seeing a decline in bearish momentum on the histogram, we have definitely seemed to have peeked for this macd cycle and we are starting the comedown towards the midline with hopefully us starting to see some green bars by the end of this week! Not financial advice just my opinion!
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