Btc analysis bearish divergence on its daily TF with sup & resis

Feb 28, 2023

If we compare BTC's current ascending chart pattern to past patterns, we can see that for an upward trend, we would need a powerful rally to break the upper trend line. However, when we look at the RSI indicator, we see a bearish divergence, as the graph is going down while the price is going up.

Therefore, it is important to keep an eye on the RSI as well. If the breakout goes down, I have already marked some areas where you can enter the spot if you choose to do so. I am also attaching a chart to show the reason.

Bearish divergence
A bearish divergence occurs when prices continue to form higher highs (typical in a bull market) while your oscillator (in this case an RSI) is forming significantly lower highs (indicating weakness in the trend.)

Please let me know if you would like me to clarify anything further

Mar 8, 2023

Note

Brother's are you short on BTC?

Mar 9, 2023

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How You Like That

Mar 10, 2023

Note

This weekend can get crazy with all new FUD. Stay safe!


1. SVB begins to face run on bank as $91 billion in bonds face interest rate risk

2. Firesale of $21 billion bond portfolio is announced

3. Over $1.8 billion is lost during firesale

4. SVB announces $2.3 billion share sale to cover bond losses

5. Credit agencies cut SVB's credit ratings

6. SVB fails to raise capital as investors panic

7. U.S. banking sector loses nearly $100 billion in market cap in 24 hours

8. SVB announces intention to sell the company

9. Regulators and FDIC take control of SVB

10. Second largest bank collapse in US history seemingly happens overnight

Currently, 93% of all deposits at SVB are ABOVE the $250,000 FDIC insurance limit.