RSI Divergent, is BTC in for a correction?
Hello beautiful person!
I am up tonight watching the U.S election and witness live the effect it will have on the BTC during it.
If you have read my previous posts, you know I have been writing about a second wave of the virus and lockdown; which will in turn affect the market negatively. I expected the second wave and more effect in September/October, so it seems I missed it there in months; but at least in Europe we are in a new lock down.
How will this affect BTC?
I believe that BTC is still correlated to the stock market in the sense that when we have a sell off in the markets, we will also have sell off in BTC.
However, BTC will gain again shortly after.
Short term bearish, long term bullish.
- check the chart for more info and trend lines.
- check the divergent in RSI.
- added fibonacci retracement indicator for the last "bull run".
Have a great night everyone, and stay safe!
I am up tonight watching the U.S election and witness live the effect it will have on the BTC during it.
If you have read my previous posts, you know I have been writing about a second wave of the virus and lockdown; which will in turn affect the market negatively. I expected the second wave and more effect in September/October, so it seems I missed it there in months; but at least in Europe we are in a new lock down.
How will this affect BTC?
I believe that BTC is still correlated to the stock market in the sense that when we have a sell off in the markets, we will also have sell off in BTC.
However, BTC will gain again shortly after.
Short term bearish, long term bullish.
- check the chart for more info and trend lines.
- check the divergent in RSI.
- added fibonacci retracement indicator for the last "bull run".
Have a great night everyone, and stay safe!
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.