BTC: Will the bullish divergence lead to higher prices?
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BTC
Weekly Chart:
The bearish divergence with false breakouts around Nov 21st 2021 is still at play.
Went down through support at 46k ish and testing 40k now.
Stuff on weekly chart takes a while to fizzle out, especially a bearish divergence.
But bottoms take less time to build than tops, so maybe this is it...
Daily Chart:
Bullish divergences formed, by taking out 42333, and MACD and other indicators are less bearish.
Not a high quality divergence, but still a bullish divergence, often the start of a trend change.
If lower prices are in the near future, this bullish divergence should dissolve and not confirm a false breakdown of 42333.
It is already limping, so it won't take much bearishness for the likelihood of 42333 not being a support.
Next support is 35k, in case 40k cannot hold.
Trade safe!
Weekly Chart:
The bearish divergence with false breakouts around Nov 21st 2021 is still at play.
Went down through support at 46k ish and testing 40k now.
Stuff on weekly chart takes a while to fizzle out, especially a bearish divergence.
But bottoms take less time to build than tops, so maybe this is it...
Daily Chart:
Bullish divergences formed, by taking out 42333, and MACD and other indicators are less bearish.
Not a high quality divergence, but still a bullish divergence, often the start of a trend change.
If lower prices are in the near future, this bullish divergence should dissolve and not confirm a false breakdown of 42333.
It is already limping, so it won't take much bearishness for the likelihood of 42333 not being a support.
Next support is 35k, in case 40k cannot hold.
Trade safe!
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