BTC UPDATE: THE STF SHOWING BULLISH DIVERGENCE!!!
Welcome folks to my new update on BTC. I am using a 2 hours TF to analyze the BTC price.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Here's an interesting thing happening in 2 hours timeframe. The RSI is making a bullish divergence which means BTC may rally higher from its present price. Look how clear the picture is, the price volume is decreasing but the RSI strength is gradually increasing.
I am expecting two scenarios here:
1. BTC will retest slightly and then bounce back.
2. BTC will breakout above the resistance ($39.5k).
In either way, BTC will possibly rally higher. The invalidation point for this bullish divergence will be $36.3k.
What do you think about this chart? Will BTC rally higher or will it fall?
Share your views in the comments.
Do like, and follow for more updates.
I'll see you in the next one.
Thank you and trade safely.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
Here's an interesting thing happening in 2 hours timeframe. The RSI is making a bullish divergence which means BTC may rally higher from its present price. Look how clear the picture is, the price volume is decreasing but the RSI strength is gradually increasing.
I am expecting two scenarios here:
1. BTC will retest slightly and then bounce back.
2. BTC will breakout above the resistance ($39.5k).
In either way, BTC will possibly rally higher. The invalidation point for this bullish divergence will be $36.3k.
What do you think about this chart? Will BTC rally higher or will it fall?
Share your views in the comments.
Do like, and follow for more updates.
I'll see you in the next one.
Thank you and trade safely.
BTC followed Scenario 2. A breakout above the resistance.