RSI and MACD Bullish Divergence Suggest Incoming Bull Run on Bit

One of the most fundamental ways to spot reversals is MACD/RSI and price action divergence, and the higher the timeframe we see the divergence the more severe the reversal will be. First see bearish divergence begin on late November, first only on the RSI but by early December the divergence is visible on the MACD. That pops and we begin the bear market. We see bullish divergence set in at the end of April into the beginning of May. This is not smack you in the face divergence, with the price action going one way and the indicators going another, rather the price found a floor and ground along while the indicators moved upward. Then we had a huge pop and we went immediately into bearish divergence. Initially the RSI was flat while the price went up but after the price peak on the 24th we see the full bearish divergence settle in on both the RSI and MACD and we go down.

Now we have clear divergence on both the RSI and the MACD. It seems pretty clear to me that this downleg has ended and we have established our first higher low. IF I am broadly correct (this is not financial advice, of course) then this new higher low will signal to the world that the bull run is on. We will get an absolute confirmation after a higher high and a second higher low.

Comment:

BTC is looking pretty good (but ethereum is looking better). We can see the H-MACD is swinging up and the normal MACD is swooping up as well. If the MACD completes a bullish cross above zero this will be extraordinarily bullish and we have laid the foundation for a higher low and the next bull run. I think BTC will underperform ETH for those of you just looking for gains.