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Bitcoin
Long
Updated

Bitcoin: Signs of a Trend Reversal

Bitfinex:BTCUSD currently shows multiple Divergences on the 2hour Chart:
a few hours ago, ...
  • Momentum was rising while Price was falling
  • the Commodity Channel Index (CCI) was rising while Price was falling

These Divergences indicate that a Trend Reversal might happen soon.
I assume that Price will start to rise - at least to the level of the weekly Pivot-Point at 8306.
Note
Although there's still a red candle on the 2hour chart, there's a bullish divergence of Price vs CCI on the 1hour chart: snapshot
Note
Looking at the Dailies there was a strong bullish Divergence at the End the of September - and RSI was in the oversold area but is now rising again.
snapshot
Trade closed: target reached
Target was hit finally!
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DivergenceTrend Analysis
TradingClue
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Also on:

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