Bitcoin Hidden Bullish Divergence - Love story?
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BTCUSD is at a very big resistance area but there is something interesting that we must pay attention to. Look what RSI (Daily) did before every big upward movement. We formed a Hidden Bullish Divergence. Higher lows on price and lower lows for RSI. This is something that we don't see very often for Bitcoin.
I am currently in a short with a tight SL above the previous wick at the weekly level of $9556. If price close above that weekly on the daily TF I will be looking to enter a new long after price retrace to that weekly level which might act as support.
Please let me know what do you think about this in the comments below.
Have a beautiful day traders!
BTCUSD is at a very big resistance area but there is something interesting that we must pay attention to. Look what RSI (Daily) did before every big upward movement. We formed a Hidden Bullish Divergence. Higher lows on price and lower lows for RSI. This is something that we don't see very often for Bitcoin.
I am currently in a short with a tight SL above the previous wick at the weekly level of $9556. If price close above that weekly on the daily TF I will be looking to enter a new long after price retrace to that weekly level which might act as support.
Please let me know what do you think about this in the comments below.
Have a beautiful day traders!
