RATE Group | Potential Bull Signal on Bitcoin Price Chart Hints at Coming Rebound
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Potential Bull Signal on Bitcoin Price Chart Hints at Coming Rebound

27 Sep Potential Bull Signal on Bitcoin Price Chart Hints at Coming Rebound

Posted at 07:43h in Bitcoin News by

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Bitcoin price is once again falling, and already there are extremely bearish price targets ranging from former bear market support at $6,000, to under $5,000, to a double bottom, and potentially all the way down at $1,000 per BTC.

When the market gets this exuberant, it’s often the time for reversal, much like the calls for $10o,000 Bitcoin at the recent rally top were commonplace. One crypto analyst believes a bounce could be coming sooner than expected if a massive hidden bullish divergence on Bitcoin price charts plays out in the days ahead.

Bitcoin Price: Hidden Bullish Divergence Could Signal a Return to Bull

With Bitcoin price recently consolidating within a symmetrical or descending triangle, a break in either direction was certain to happen. However, Bitcoin price crashed despite most of the market expecting Bitcoin to break upward and continue on its bull trend into a full-blown bull run.

Related Reading | Crypto Analyst: Under $5,000 Bitcoin Now A Possibility

While it’s…

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