Up or down hard to tell - mixed signals.
BTC above bearish trendline - but only barely - rise lacks momentum but remains stubbornly bullish so it could continue.
However, all previous major consolidations have always bottomed out at the bottom of the main up channel - which this one has yet to do.
Plus bearish divergence persists on 4H - so a retest of $3000 remains a possibility prior to next bull run.
BTC above bearish trendline - but only barely - rise lacks momentum but remains stubbornly bullish so it could continue.
However, all previous major consolidations have always bottomed out at the bottom of the main up channel - which this one has yet to do.
Plus bearish divergence persists on 4H - so a retest of $3000 remains a possibility prior to next bull run.
Note
RSI divergence referred to here has now cleared.
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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.