BTC Possible Bearish Divergence
Zaktualizowano
A very decent bounce for Bitcoin after went down to 91K.
However we should anticipate the rejection that could happen between this range 98K - 100K (psychological resistance).
If we see Bitcoin recent price action, on lower timeframe BTC coded with a couple higher peak and higher trough which is pretty bullish, but on daily chart the bias is still bearish, forming lower peak and lower trough indicates a bearish momentum.
Based on stochastic oscillator, Bitcoin could possibly make a bearish divergence if BTC failed to break the resistance and make a lower peak on daily chart. We also should look for increasing volume to validate the breakout.
In conclusion, BTC should break the 100K resistance and stay above that to continue its rally and invalidating the current bearish price action.
However we should anticipate the rejection that could happen between this range 98K - 100K (psychological resistance).
If we see Bitcoin recent price action, on lower timeframe BTC coded with a couple higher peak and higher trough which is pretty bullish, but on daily chart the bias is still bearish, forming lower peak and lower trough indicates a bearish momentum.
Based on stochastic oscillator, Bitcoin could possibly make a bearish divergence if BTC failed to break the resistance and make a lower peak on daily chart. We also should look for increasing volume to validate the breakout.
In conclusion, BTC should break the 100K resistance and stay above that to continue its rally and invalidating the current bearish price action.
Zlecenie aktywne
The Bearish Divergence is invalidated successfully due to Bitcoin reach 100K and stay above that level for quite a while. The increasing volume support to invalidated the divergence since no swing high has been made.
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