Bitcoin: Signs of a Trend Reversal

Oct 16, 2019

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.

Oct 16, 2019

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:

Oct 16, 2019

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.

Oct 20, 2019

Trade closed: target reached

Target was hit finally!