BTCUSD - Buying Opportunity

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
RSI has moved over 50 and broken out the descending trendline (Pink Color) towards upside. RSI is showing momentum is up. Also we see price can not close bellow the neckline. There a bullish hammer is formed. It's a clear bullish signal.

Recently we saw price had fallen down sharply after showing a regular bearish divergence. After that we saw Bullish Momentum on 4hr chart. Price and RSI had broken descending trend-line towards upside and it was the first signal of impending trend reversal. Also there was a bullish Fakey setup. After that price got increased and then again price got decreased.

Invalidation : If price close below the neckline of H&S .

Trading Tips : "When I trade, I don’t just use a price stop, I also use a time stop. If I think a market should break, and it doesn’t, I will often get out even if I’m not losing any money" - Paul Tudor Jones

'4M of Trading'
- (Understanding) Market,
- (Your Trading) Method,
- Money (Management) &
- (Leading and Managing) Myself

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Comment: Price & RSI have created hidden bearish divergence
Comment: Now Buying Opportunity
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