BItcoin bullish divergence

9 thg 5, 2018

As you can see even the price is making lower lows, the RSI is making higher lows which indicates the bear momentum is exhausting
This could possibly be the bottom of this correction

9 thg 5, 2018

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We must close above the cloud for any bullish continuation

10 thg 5, 2018

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Ascending triangle didn't go well
Support found at Tenkan (blue line)
But i don't think it will hold

10 thg 5, 2018

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If we go down then we can expect a bounce at 9213 where flat kumo is, which usuallly acts like a magnet

10 thg 5, 2018

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Bitcoin making a rising wedge which is a bearish signal
Volume descending and there is a divergence in RSI, although price is making higher higs rsi is not which is a bearish sign or you can say bulls are getting weak

But this is on lower time frame so it will not effect the trend overall
Also the target seems to be between 9200-9240 which is the also the flat kumo on 30 minute and 0.236 fib level
So most likely it will not go down further if it drops

But first the price needs to break the wedge and close below it
Let's see what happens in next few hours, i will keep you guys updated

10 thg 5, 2018

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It went quite far from the target

11 thg 5, 2018

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We have broken the 0.5 fib level and also entered into the cloud in 12 hour time frame
I am looking at 8440 as a very strong level to buy
I already hold a long position bought at 9081 but i will buy more at 8440 if it goes down