Reverse H&S and Hidden Bull Divergence
I thought I'd take a moment to look at Bitcoin's mid-term prospects. Is that actually a reverse head and shoulders complete with retrace back to the neckline? You be the judge.
With regards to the indicators, we've created a hidden bullish divergence in the Momentum over the last month. Additionally, both RSI and Momentum stopped short of hitting their lower trendlines on this last downtrend. The MACD is entering positive territory and the last peak on the histogram is bigger than the penultimate one.
Overall, this is a fairly bullish picture and we could see some new highs before the end of the month.
With regards to the indicators, we've created a hidden bullish divergence in the Momentum over the last month. Additionally, both RSI and Momentum stopped short of hitting their lower trendlines on this last downtrend. The MACD is entering positive territory and the last peak on the histogram is bigger than the penultimate one.
Overall, this is a fairly bullish picture and we could see some new highs before the end of the month.
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