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TheCryptoBeast

BTC has formed bullish divergence on 4H to 23H, reversal likely

Long
Bitcoin (BITMEX:XBTUSD.P)  
TheCryptoBeast Updated   
BITMEX:XBTUSD.P   Bitcoin
Trend Analysis Chart Patterns Technical Indicators BTCUSD BTC
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trendanalysis chartpattern indicator btcusd btc
If you look at time frames, 4H, 6H, 8H, 12H, and 23H you can clearly see bullish divergence has formed. A reversal in this situation is highly probable.
Comment:
We dropped more unfortunately. The divergence is still there, and this 7900-8000 level could be where we see a reversal. It happens to also be near the end of a wedge.
Comment:
The reversal ended up happening, hopefully you saw the signs of it coming to an end up near 8600 and switched back to a short.
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