BTC/USD - Massive Bullish Divergence! Bounce time? 🚀

Despite the news articles calling crypto dead, there is one coin that is NOT IN THAT CATEGORY.

It's called Bitcoin.

Bitcoin is not crypto, there is a big difference here. Rather, crypto could be seen as a spin-off from BTC. In many ways crypto failed to deliver for quite a lot of people, particularly in this bear market. Traps, scams and rugs everywhere.

We had Terra Luna UST refugees in May, now we have FTX refugees in November. Guess where they all went if they did not left this space altogether? To Bitcoin.

For good reason. It's the only reliable bet in this space.

Speaking of BTC. The chart is bearish, I agree. Lower lows in the price action... BUT!

All my key indicators are giving me bullish vibes:

1. RSI on WEEKLY timeframe (this is high confidence) gives a CEAR bullish signal via a bullish divergence.
2. MACD on WEEKLY is still bullish despite Sam, the CEO of FTX, trying to destroy this market.
3. The OBV is doing higher lows on WEEKLY = bullish
4. Sell volume disappeared after Sam's fraud was exposed

Plus, not to mention, the MONTHLY MACD histogram is making higher lows. Whenever this happened, the bear market was over in the past... if November closes higher than October on the monthly MACD histogram, then this would be extremely bullish in my book.

There are two critical weeks left ahead of us in November.

From a simple price action point of view, the price is at support in a massive falling wedge (if we can call it that).

To me, shorter here are betting on the wrong direction and anyway, the risk/reward is not worth it for shorts.

Should BTC bounce here, then there will be some tough resistance at $18k. Only a break above that would turn me excited again.

In any event, I don't expect much from BTC until early next year. At that time I expect the bullish momentum to intensify.

Until then, stack sats. Buying at these prices is pretty much like selling around 60k last year. NFA.

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