BitcoinLong
Bitcoin: Double Bottom,Broke Bullish Wedge, RSI divergence, Buy
Bitcoin Analysis..
The price has formed a Potential Double Bottom and price was not able to break below the low formed on 25th Nov,and price bounced more than $1,000 from the level.and the price also broke above the Bullish wedge with a strong momentum,and RSI is also giving Double Divergence on Daily Timeframe, So there is a huge possibility that price will continue to rise till the next resistance level...
The Only Concern is that the market has very poor volume.This could be a relief rally within a Downtrend..
Note:
Be carefull from Fake Breakouts..
Wait for the formation of Bullish Candlestick Pattern to close on 4hr/Daily Timeframe for confirmation..
The price has formed a Potential Double Bottom and price was not able to break below the low formed on 25th Nov,and price bounced more than $1,000 from the level.and the price also broke above the Bullish wedge with a strong momentum,and RSI is also giving Double Divergence on Daily Timeframe, So there is a huge possibility that price will continue to rise till the next resistance level...
The Only Concern is that the market has very poor volume.This could be a relief rally within a Downtrend..
Note:
Be carefull from Fake Breakouts..
Wait for the formation of Bullish Candlestick Pattern to close on 4hr/Daily Timeframe for confirmation..
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.