Bitcoin Bull or Bear?
Just another view of BTC. If you have been following my updates you know 3 days ago I thought BTC would drop back down to the trendline, I thought it would be slower, then the dump we had. Now is where we will decide if we continue the bullish momentum or not
Divergences: We can see on the daily timeframe Bitcoin made a lower low but was quickly able to recover and close above the trendline, this paired with the bullish divergence (RSI making higher highs, but stock making lower lows) suggest to me that we should reverse off this price level
My worry is this trendline we are on right now, if we break under it within the next two-three days I don't think BTC has the power to hold and will continue on a sharp decline.
Divergences: We can see on the daily timeframe Bitcoin made a lower low but was quickly able to recover and close above the trendline, this paired with the bullish divergence (RSI making higher highs, but stock making lower lows) suggest to me that we should reverse off this price level
My worry is this trendline we are on right now, if we break under it within the next two-three days I don't think BTC has the power to hold and will continue on a sharp decline.