XBTUSD: The price in bitmex reflects the price of the Dollar pair and not the USDT as in other exchanges like Binance & Bitfinex.
In the exchanges that make pair with Tether it seems that the descending channel has already been broken, but this is due to the spread between the BTCUSD and BTCUSDT pairs.
At Coinbase, Bitstamp and Kraken, just like in bitmex they use ballast with Dollar, bullish is not confirmed yet!
We still have a very important line to be broken which is the descending channel started on December 8 (yellow line).
That's one of the most important trend lines of the whole fall and I'd rather consider that we'll only be really bullish after breaking it, after all, it's not as reliable looking at the pairs with Tether.
On February 14, Bitcoin made a golden cross (50MA crossing up 200MA) which is a signal of a lot of buying power and generates high expectations of a big upwards move. The 3 MAs (20,50,100) are all pointed up confirming the strength of the trend. In contrast, it is already possible to observe a bearish divergence in the MACD that can lead us to a brief correction in the price, besides the RSI being in an overbought region.
I believe we will have a correction for $3710 (0.23fib) and maybe for $3640 (0.38fib), in this region there is a great buying power and we can put a new LONG operation with enough security.
My bet on this correction is according to the divergence on MACD and also because it is RSI overbought and added to the fact that it is a very strong trend line that will hardly be broken with the indicators showing these small signals of weakness.
After this correction I believe we will be able to go up more consistently and with a much more mature and strong uptrend!
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thank you for sharing this with me, I have a question. did we reach the bottom?