Bitcoin Price Analysis & Future Forecast: BTC Weekly Bullish Divergence

Bullish divergence between two fundamental oscillators can predict a future countertrend move.

Bitcoin’s (BTC) Weekly Chart

Bullish Divergence on Bitcon’s Chart

The chart above shows evidence of some significant changes ahead occurring for Bitcoin – and I’m leaning on the bullish interpretation of that change just ever so slightly. One thing that this chart does highlight is the significant difference between the RSI (Relative Strength Index) and Connie Brown’s Composite Index. If we were to detect for divergences between the RSI and the weekly price action chart, we would not see any. The RSI has been printed lower lows along with Bitcoin’s price action. However, if we were to compare the RSI against the Composite Index or price action against the Composite Index, we would see the divergence. Notice how both price and the RSI are printing lower lows but the Composite…