BITCOIN: Bullish Divergence at the 4h-chart

Another low today, as expected, within the two lines which define the Bull-flag.

BITCOIN touched the lower support of the Bull flag and have entered inside the “Oversold” area of the RSI at the 4h-chart.

The good new is that RSI indication of the last two lows shows a divergence. When prices make lower lows but the oscillator(MACD or RSI are good ones) make higher lows it means just one thing, Next move must be upwards or, better said, it is a Bullish Divergence.

RSI Oscillator

MACD Oscillator

If you enter now (3400 USD), always considering that the upper dashed line is the “resistance” , it is very likely to get an easy profit by planning your exit around that line (3750 / 3850 USD).

As usual, place your Stop Loss orders conveniently.

Another thing, when the price moves between two lines, rebounding on both, breakages occur usually when these lines are tested at least two times.

It may happen that the Upper resistance would be broken upwards by (d).



*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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