Appears to be a bullish divergence based on a higher low and a lower volume and lower low on the RSI. This coincides with Coinbase's announcement that they will continue to support "bitcoin" as the original chain and refer to bitcoin 2x as b2x. Could dip a little more today, but should be positive by tomorrow.
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This is actually a potential "hidden bullish divergence" and I should note... this is only a set up for it and cannot be confirmed until the day closes and the price begins to move upward on the subsequent candle.
How is this a daily bullish divergence? I thought you needed a lower low price + higher low oscillator. Source: investopedia.com/articles/trading/04/012804.asp. Here we have a higher low price + a lower low on the oscillator. Moreover, the day isn't done yet, the price and RSI could still change.
tshah
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@nerophon, stupid chart.i think he bought the top thinking 7k :lol
Brodie_MT
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@tshah, it matches the first thing that comes up when you google bullish divergence so please explain?
@Brodie_MT, I don't know, I'm not a professional trader. I'm just quoting what Investopedia says.
Brodie_MT
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@nerophon, no youre both right... i think i jumped to a conclusion because of the image i googled. hidden bullish divergence is still a possibility but it needs to close higher than $5570. I really do appreciate the criticism.
Here we have a higher low price + a lower low on the oscillator. Moreover, the day isn't done yet, the price and RSI could still change.