Bitcoin's price action TA: bearish channel, 4h bullish divergence & more
Stats:
Bitcoin is still going solo, now the dominance is at 51.2%.
Current price: $6,426.16 with volume of $6,335,821,666.
BTC/USD daily chart summary:
- Bitcoin is still in this bearish channel with lower highs & lows
- we're apporaching again the 50 day MA (blue), which could act again as resistance
- the MACD is slowly turning around and we could see a bullish Signal line cross, at the -400 mark (dotted yellow), like it happened before
Click here to enlarge the image
BTC/USD weekly:
- I expected to see the weekly candle to close above the median line (white), like it happened before, but it seems that we actually closed for the first time below this support level
- the previous bullish breakout from the descending triangle didn't last too long. Now we're back at the top line and look for support
- the MACD is also fighting at the signal line
Click here to enlarge the image
BTC/USD 4h divergence:
- this bearish stairway movement isn't natural for Bitcoin
- on the 1st of August we had a bearish Tenkan cross (blue goes below red) and now we holding the support at the Tenkan (circle)
- we have a bullish RSI divergence: the RSI isn't confirming the lower lows price action
- we could see a double bottom pattern bounce
Resteemed by @resteembot! Good Luck!
Check @resteembot's introduction post or the other great posts I already resteemed.
This post has received a $100.00 % upvote from @siditech thanks to: @aezakmi.
Here's a banana!
This post has received a 5.19% upvote from thanks to: @aezakmi!!!
For more information, click here!!!!
If you use our Robot before your post has 1 day and get an Upvote greater than 1%, you will automatically receive Upvotes between 1% and 10% as a bonus from our other robots.