Greetings, traders and investors!
Today, our spotlight is on Bitcoin, dissecting the 8-hour timeframe for insights.
What's caught our attention is an intriguing phenomenon - a Hidden Bullish Divergence. Let's break it down: RSI took a dip, heading into oversold territory, marking a Lower Low. Now, contrast that with BTCUSDT's price, which dropped but managed a higher low. This interplay defines Hidden Bullish Divergence.
Now, the plot thickens as we focus on a support at $25,200. This juncture could launch a potential price recovery up to $27,700, where a dynamic resistance level awaits. It's a key zone to watch.
Amidst our optimism, a word of caution. Keep a close eye on that $25,200 support. If the price breaches it and maintains the stance below, especially on the Daily candlestick, our once-reliable support could fade.
Happy trading!
Today, our spotlight is on Bitcoin, dissecting the 8-hour timeframe for insights.
What's caught our attention is an intriguing phenomenon - a Hidden Bullish Divergence. Let's break it down: RSI took a dip, heading into oversold territory, marking a Lower Low. Now, contrast that with BTCUSDT's price, which dropped but managed a higher low. This interplay defines Hidden Bullish Divergence.
Now, the plot thickens as we focus on a support at $25,200. This juncture could launch a potential price recovery up to $27,700, where a dynamic resistance level awaits. It's a key zone to watch.
Amidst our optimism, a word of caution. Keep a close eye on that $25,200 support. If the price breaches it and maintains the stance below, especially on the Daily candlestick, our once-reliable support could fade.
Happy trading!
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