BTC: Possible Double Bottom + Bullish Divergence
I'll keep this short and simple.
We can see a possible double bottom forming on BTC. There is also a descending wedge pattern forming since August 15th. RSI is showing oversold with bullish divergence (lower price action but higher RSI) on the daily chart.
This could signal a potential reversal upwards in the near future.
Invalidated and bearish with a daily close below $17,600.
We can see a possible double bottom forming on BTC. There is also a descending wedge pattern forming since August 15th. RSI is showing oversold with bullish divergence (lower price action but higher RSI) on the daily chart.
This could signal a potential reversal upwards in the near future.
Invalidated and bearish with a daily close below $17,600.
Note
Bitcoin is breaking out of the wedge pattern. Let's see if it holds.
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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.