RATE Group | Bitcoin (BTC): Hidden Bullish Divergence Points To Swift Recovery Ahead
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Bitcoin (BTC): Hidden Bullish Divergence Points To Swift Recovery Ahead

27 Nov Bitcoin (BTC): Hidden Bullish Divergence Points To Swift Recovery Ahead

Posted at 17:27h in Bitcoin News by

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Bitcoin (BTC) recently made an attempt to retest the previous low but it has yet to reach all the way down. The price has settled slightly above the previous low and is expected to consolidate there before the upcoming break out. It is pertinent to note that this triangle could break either way but considering that we have had an extensive correction and there is a bullish divergence on the RSI, the probability of a bullish breakout is higher. The 4H chart for BTC/USD shows that the price has been trading in a series of triangles throughout its fall. Just before the 25th November fall, Bitcoin (BTC) was trading in a triangle that it broke below to enter an even larger triangle. There is every possibility that the same could happen again short term.

Over the past few days, we have seen some bullish volume return back to the market but it is still insignificant compared to the bearish pressure. The whales have so far allowed bearish momentum to build up, but at…

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