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A Possible Path based on "Divergence Chain" for Bitcoin

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BTCUSD

#BITCOIN broke the uptrend line (green line) in the late June 2021 and these days it's pullbacking to it. A divergence (blue line) can be seen in the last days move which could lead to a divergence chain; so, a possible path for Bitcoin could be a sideways trend together with a divergence chain, like the one happened from late Feb to early May 2021; then, a decline at least to 38,000 USD.

  • Invalidation conditions: Either breaking the downtrend in RSI (blue line) or rebreaking the uptrend (green line) in the price chart and go beyond that.

  • DISCLAIMER: This analysis is not a financial advice.



mehdi-rad
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Bitcoin (Cryptocurrency)BTCChart PatternscorrectioncryptoCryptocurrencyDivergencefallTechnical IndicatorsTrend Analysis
mehdi-rad
Umnfortunately, I don't have much time to post in tradingview but I am very active in my Telegram Channel. You can join and follow my channel via this link:

t.me/cryptoMarket_rad

Instagram:
instagram.com/mehdi_rad_ew
Juga pada:

Penafian

Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.