Bitcoin coud be ready to start pumping hard
As you can see in the chart Bitcoin looks very bearish, it has reached the previous bull market high witch is a strong support, but it broke this one and closed a daily candle under it.
It has made lower lows but if you look at the Moving Average Convergence Divergence indicator it hasn't reached new pronounced lows while bitcoin has.
It has formed a clear triple bullish divergence that is a super strong buy signal and an early sign of trend reversal.
In the other side we have a broken support witch is a strong sell signal and i think that it would be difficult for the price to close over 21k in short term.
In my opinion is more likely for it to form an accumulation channel between 17500$ and 21000$ and then it will come the strong move.
What side? I don't know, In my opinion the mos wise full action is to wait for confirmation and take action.
If it closes a daily over 22500$ within this week the reversal could be confirmed but if it fails the failed Moving Average Convergence Divergence triple bullish divergence will turn in a very strong sell signal, and the price will go lower.
I will be glad to see what do you think in the comments, if you agree with me give me a like, it helps a lot.
It has made lower lows but if you look at the Moving Average Convergence Divergence indicator it hasn't reached new pronounced lows while bitcoin has.
It has formed a clear triple bullish divergence that is a super strong buy signal and an early sign of trend reversal.
In the other side we have a broken support witch is a strong sell signal and i think that it would be difficult for the price to close over 21k in short term.
In my opinion is more likely for it to form an accumulation channel between 17500$ and 21000$ and then it will come the strong move.
What side? I don't know, In my opinion the mos wise full action is to wait for confirmation and take action.
If it closes a daily over 22500$ within this week the reversal could be confirmed but if it fails the failed Moving Average Convergence Divergence triple bullish divergence will turn in a very strong sell signal, and the price will go lower.
I will be glad to see what do you think in the comments, if you agree with me give me a like, it helps a lot.