Bitcoin / TetherUSUpdated BTC: Bearish Divergence in 6-Hour Timeframe
What a rally it was for BTC in a shorter timeframe!
As per our previous analysis, BTC rebounded exactly from the support level of 63.5k, but it hasn't reached the target as expected.
BTC has yet to hit the 70k target, and if it maintains this level, we are likely to see it soon.
Current scenario:
BTC is under a rising wedge pattern, and the RSI is forming a bearish divergence. This indicates a bearish move, so it's better to stay cautious.
There's no doubt that in the long run, BTC is very bullish, and eventually, we're going to see record-breaking rallies. However, in the short term, a pullback can be expected.
Trade safely.
Regards,
Team Dexter.
As per our previous analysis, BTC rebounded exactly from the support level of 63.5k, but it hasn't reached the target as expected.
BTC has yet to hit the 70k target, and if it maintains this level, we are likely to see it soon.
Current scenario:
BTC is under a rising wedge pattern, and the RSI is forming a bearish divergence. This indicates a bearish move, so it's better to stay cautious.
There's no doubt that in the long run, BTC is very bullish, and eventually, we're going to see record-breaking rallies. However, in the short term, a pullback can be expected.
Trade safely.
Regards,
Team Dexter.
Note
BTC played as projected.
I hope you guys followed.
#BTCUSDT
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Related publications
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.