Bitcoin Starting To Look Very Bullish!!!
We are starting to look better and better everyday here with BTC, we are following this bullish divergence very nicely which is going to bring us an overall trend reversal like i have been talking about recently, the main difference between a hidden divergence and regular divergence is that the hidden ones signal a trend continuation and the regular divergences show a trend reversal, and since we have recently been in a strong short term downtrend shown by a hard 1-2-3 move to the downside we are looking very good for a reversal back into an uptrend! Like i talked about yesterday i said we had to see a strong push up to regain our pivot point (Bullish) and tonight we are looking like we are about to do that, we need to wait and see what our daily close looks like at 8pm EST, if we are successful at regaining this level we are looking even more bullish ontop of the very strong bullish divergence pattern, even if we don't get the daily close tonight we are still in good shape and definitely will still have the chance to do so in the coming days. Looking at the Stoch RSI we are in very good shape here we are seeing the blue continuing to push strongly to the upside! we are also right about to enter back into the middle zone coming up from the oversold area, we want to continue to see separation in the 2 MA's with the blue remaining on top and we got to keep seeing a strong push up with the blue reaching to the sky. Looking at the Wavetrend we are seeing the wave starting to bottom out with us slightly starting to curl in the bottom half of the zone, we are still quite a ways away from the upper zone and the very top level so we are looking great there, we really want to see the red crosses pass the actual wave and go onto the bottom side of the wave to start giving us that real push upwards. Upcoming key levels: most importantly the pivot point, 45K level, 46 and 47K levels. Key levels to hold: the pivot point if we regain it, 42K range, and very importantly the 40K level! Not financial advice just my opinion!
Related publications
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.