Bitcoin broadening descending wedge - BULL
Could this finally be the bottom?
It has been a terrible year for Bitcoin. Bears have killed a lot of hopes and dreams. But we seem to have a lot of divergence between price and popularity. Bitcoin usage is at an all time high while the price is being driven in to the dirt.
All long term time frames have hidden bullish divergence building that has not been allowed to play out. If the bears cannot break this down over the next 24-48 hours they will be forced to relent to bulls.
Here we go again. Another Adam & Eve bottom reversal looks like it is being built. Closing above 2117 CNY will be the confirmation of a double bottom reversal.
Key signal to enter a position is RSI 50+ on lower time frames with 4H/Daily confirmation for safety.
There is still room in here for some downside but the potential is limited with weekly S1 still holding this up.
It has been a terrible year for Bitcoin. Bears have killed a lot of hopes and dreams. But we seem to have a lot of divergence between price and popularity. Bitcoin usage is at an all time high while the price is being driven in to the dirt.
All long term time frames have hidden bullish divergence building that has not been allowed to play out. If the bears cannot break this down over the next 24-48 hours they will be forced to relent to bulls.
Here we go again. Another Adam & Eve bottom reversal looks like it is being built. Closing above 2117 CNY will be the confirmation of a double bottom reversal.
Key signal to enter a position is RSI 50+ on lower time frames with 4H/Daily confirmation for safety.
There is still room in here for some downside but the potential is limited with weekly S1 still holding this up.
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