Bitcoin. New rally coming?
Bitcoin has been in a clear downtrend since mid-November making lower lows and lower highs. The downtrend is still not finished.
However, the RSI is showing bullish divergence and we are seeing some form of double bottom forming.
The RSI pattern is similar to what happened during September, with the strong rally that happened in October.
We are waiting for the confirmation of a new uptrend. Outlined in green two levels that need to be conquered by bulls to confirm the downtrend is over. That would be a strong long signal.
However, the RSI is showing bullish divergence and we are seeing some form of double bottom forming.
The RSI pattern is similar to what happened during September, with the strong rally that happened in October.
We are waiting for the confirmation of a new uptrend. Outlined in green two levels that need to be conquered by bulls to confirm the downtrend is over. That would be a strong long signal.
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DM us for more information about the bot and our services.
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