The current situation on BTC/USDT chart looks like the previous price movement. In May 2021 Bitcoin showed massive growth accompanied by the RSI divergence, later in dropped and consolidated in the declining channel. After the price broke through the upper border of the channel BTC exploded.
Since the end of July, Bitcoin gained and the RSI divergence appeared again. After the drop, the price is consolidating in the declining channel as it did in May-June 2021. According to this, we can suggest that after the upper border breakout we will see Bitcoin pump with the target at $49 500.
Since the end of July, Bitcoin gained and the RSI divergence appeared again. After the drop, the price is consolidating in the declining channel as it did in May-June 2021. According to this, we can suggest that after the upper border breakout we will see Bitcoin pump with the target at $49 500.