Skip to main content

Bitcoin is Forming a Bullish Divergence and a Reversal V

On primexbt exchange Bitcoin saw a strong rally last night, slowly breaking through the resistance it previously faced at $7,000, and seemingly finding stability in this area. This is something we haven't seen since the price dropped to $3,800 on March 12.

This bullish movement seems to confirm BTC has formed a divergence signal to build strong bullish momentum in the weeks to come. One more interesting thing when looking back at Bitcoin's bullish history, one trader has noticed that Bitcoin is generally bullish between April and May.



Bullish divergence appears clearly from a technical point of view

At the time of writing, Bitcoin is trading above the $7,100 level, marking a notable increase from the lows of $6,600 that were set the day before yesterday. Before that, Bitcoin had many attempts to break through the $7,000 area, but every time it approached this price, it was rejected and turned around. If the price continues to stabilize in this area, this could be a sign that the bulls will resurface and the uptrend will continue to expand.

A bullish divergence (also known as a bottom divergence) is a bullish forecast signal in which the technical indicator makes a higher bottom while the price makes a lower bottom. CRYPTO₿IRB showed this signal in the weekly time frame and forecast BTC will continue to rise for weeks to come:

90% of the April-May period in recent years has been bullish, leading me to expect a rally in the last days of March. This time will be different, especially after confirming the 6-month bullish divergence on the weekly chart.



Divergence signal and reversal V-pattern predicts bullish BTC price

See more: Bitcoin Forms Bullish Weekly Candlestick Pattern, But One Factor Could Derail the Trend

BTC formed a V-shaped reversal pattern after breaking resistance

Bitcoin's movements over the past few days and especially today have reinforced the idea that Bitcoin from the $3,000 area has formed a V-shaped bottom, which is a signal that a trend reversal is coming. happen.

Mohit Sorout - a well-known analyst - has been following this pattern and mentioned it in his prediction on March 25, and to this day everything is still going in the right direction.

BTC formed a trend reversal V bottom pattern

All these factors are painting a bullish picture, showing the tireless efforts of the “bulls” and will continue for many weeks to come.

Comments

Post a Comment

Popular posts from this blog

Bitcoin Forms a "Golden Cross" Pattern When Price Hits $7,500

Bitcoin bounced off the $7400-7500 resistance area on Thursday, with a high probability of a rally to $8000 The formation of the Golden Cross pattern predicts an imminent growth.Bitcoin has finally broken out of the ceiling that is holding back the price of the currency to enter a bull market. The coin's value surged past $7,500 on Thursday thanks to a sudden buying move that sent the price up over $704 in just 3 hours. Prices peaked at $7,775 on Coinbase before falling lower in early Asian trading on Friday. BTC was able to enter a resistance area on the chart. However, the upside movement is faltering, showing traders' anticipation for a continuation of the bull market before continuing to buy at regional tops. This could lead to a deeper drop to a lower price range. Formation of the Golden Cross pattern Bitcoin is expected to continue to increase in price, at the same time forming a Golden Cross pattern - a price model that can provide highly accurate predict...
Post a Comment
Read more

Bitcoin price has plummeted but still can't break through resistance!

Currently, Bitcoin on primexbt exchange is facing a strong bearish trendline resistance. Throughout the past week, Bitcoin has failed to break above this resistance line. Just like my analysis last week, when Bitcoin first hit this downtrend line, I also predicted Bitcoin to be pushed down. Figure 1: BTCUSD, COINBASE, EASY Price Chart On the daily time frame (D) Bitcoin is still at a very strong psychological resistance price area, which is a price area that many traders are interested in. As you can see in Figure 1, Bitcoin is facing the following resistance levels: - Old support becomes new resistance - Price range of exponential moving averages EMA20 and EMA50 - Touching the downtrend line So this is still in a very strong resistance area, this price area we will analyze on 2 different points of view. 1. Bitcoin continues to plummet This week I am still basing on the Bitcoin analysis from last week to make the next analysis and prediction for this week. Looking at it objectively on...
Post a Comment
Read more

What do you think about the long-term future of bitcoin? - Primexbt

 Hello Investor,  So - you've seen what the great minds of the world think about Bitcoin.And you also took a look at the material that we are preparing, but do you know why we are so caught up in this new monetary madness? listen to the sharing about Bitcoin of the company's analyst primexbt Bitcoin is the Future of Money Because Bitcoin is the future of money - and we want to be a part of it.To understand why Bitcoin is the future, it is important to understand how money has changed history and how history has changed history.The first exchanges were based on barter , exchange a dozen eggs for a hen; take cows for a wife.Some civilizations even traded goods and services for promises of payment in the future, but that was terribledifficult to track and assign an exact value to each of these credits. And so we invented money.   At first it was simple things - like stones or seashells. A few thousand years and we moved to precious metals and gemstones; but all of th...
Post a Comment
Read more