BTC/USD chart analysis

in #bitcoin • 7 years ago (edited)

As can be seen below, there is a bullish divergence on the daily chart.

1.JPG

#BTC RSI heavily undersold while stochastic RSI is within undersold areas as well. Low-level longs between 5800-5900.

What does this mean? A bullish divergence means that prices have fallen to a new low while another oscillator moved in the other direction. In short, bears are currently losing their power. It is a textbook example for the end of a downtrend. Let's see how the market develops. I'm staying out.

#crypto #cryptocurrency #btc
7 years ago in #bitcoin by
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