The charts says it all. Short term bullish reversal underway on 4hr chart and all the way up to 23 hr hour charts.
1st upward goal is approximately @ 9.2 USDT. There is a vague possibility for BTC to shoot up around 9400+ USDT and retest 100 moving average again.
This can become long term bullish if it shoots above 200 MA and stays above this time. But only time will tell.
Not financial advice, Just my two Satoshis
1st upward goal is approximately @ 9.2 USDT. There is a vague possibility for BTC to shoot up around 9400+ USDT and retest 100 moving average again.
This can become long term bullish if it shoots above 200 MA and stays above this time. But only time will tell.
Not financial advice, Just my two Satoshis
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Even with recent price drop down to 8576 usdt on binance , the bullish diversion is now even more prominent.
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Reasons for bullish perspective :
1. oversold of 4 hr - 10 hr chart.
2. Retracement from recent pump up has found home by touching 0.618 golden fib level.
3. Bullish reversal Divergence evident all the way from smaller time frames up to 23 hr chart indicating that the bears are exhausted and the bulls are out to play.
4. With recent pump from oversold RSI on daily chart ... the RSI never achieved oversold status on daily chart. It retraced to 46 RSI and now appears is ready to pump back upwards into oversold status on daily chart.
Because of this it is very likely that not only will price cross over 200 MA @ 9.2 K, but will probably retest 100 MA. around 9.5 K USDT.
But only time will tell. Not financial advice, Just my two Satoshis
1. oversold of 4 hr - 10 hr chart.
2. Retracement from recent pump up has found home by touching 0.618 golden fib level.
3. Bullish reversal Divergence evident all the way from smaller time frames up to 23 hr chart indicating that the bears are exhausted and the bulls are out to play.
4. With recent pump from oversold RSI on daily chart ... the RSI never achieved oversold status on daily chart. It retraced to 46 RSI and now appears is ready to pump back upwards into oversold status on daily chart.
Because of this it is very likely that not only will price cross over 200 MA @ 9.2 K, but will probably retest 100 MA. around 9.5 K USDT.
But only time will tell. Not financial advice, Just my two Satoshis
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This idea will be invalidated if price falls much lower so that RSI falls below the previous lowest value on RSI on 4 hr + charts and hence negating the bullish divergence. For now we are still on track.
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Bullish diversion is negated on 4 hr chart... I am expecting further fall at this point.