BitcoinUpdated BTCUSD - Persistent Bearish Divergence on 4H
Up or down hard to tell - mixed signals.
BTC above bearish trendline - but only barely - rise lacks momentum but remains stubbornly bullish so it could continue.
However, all previous major consolidations have always bottomed out at the bottom of the main up channel - which this one has yet to do.
Plus bearish divergence persists on 4H - so a retest of $3000 remains a possibility prior to next bull run.
BTC above bearish trendline - but only barely - rise lacks momentum but remains stubbornly bullish so it could continue.
However, all previous major consolidations have always bottomed out at the bottom of the main up channel - which this one has yet to do.
Plus bearish divergence persists on 4H - so a retest of $3000 remains a possibility prior to next bull run.
Note
RSI divergence referred to here has now cleared.
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