Hello guys,
Today we are looking at the BTCUSDT chart at the 1 hour timeframe and we can clearly see a couple of signals to be able to predict bitcoin's next move.
On the first have we have a bullish divergence. If you don't know what's that it's when the price is forming lower highs but the RSI indicator is forming higher highs which indicates that people are buying more and more. That should be bullish for Bitcoin.
On the other hand we have consolidated inside a symmetrical triangle and we are still trading inside it. That chart pattern isn't necessarily bullish but combined with the divergence we have a higher chance of breaking upwards.
Remember to never trade inside a chart pattern because it's very risky..
Today we are looking at the BTCUSDT chart at the 1 hour timeframe and we can clearly see a couple of signals to be able to predict bitcoin's next move.
On the first have we have a bullish divergence. If you don't know what's that it's when the price is forming lower highs but the RSI indicator is forming higher highs which indicates that people are buying more and more. That should be bullish for Bitcoin.
On the other hand we have consolidated inside a symmetrical triangle and we are still trading inside it. That chart pattern isn't necessarily bullish but combined with the divergence we have a higher chance of breaking upwards.
Remember to never trade inside a chart pattern because it's very risky..