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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.

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