A crypto strategist that is known for accurate inventions of Bitcoin’s pre-defrospective correction last year says that BTC can abruptly terminate its correction if a technical setup takes place.
Pseudonymous analyst stretches Capital tells Are 542,500 followers on the social media platform X that Bitcoin’s Relative Strength Index (RSI) -indicator flashes a bullish divergence on the daily map.
A bullish divergence on the RSI is usually seen as a reversal signal because it indicates that buying momentum is increasing, even if the price of an active lower or sideways acts.
“Promising signs at an early stage of a bullish divergence that develops
Reclaiming the previous lows of $ 84,000 could determine the price to further expand this Bull Div. “
The trader out BTC flashes the bullish reversal signal just as Bitcoin shows signs of the seller.
“The seller’s volume has continued to fall in recent days
It has fallen to the point at which sellers now produce under average volume when they try to take control of the market
This has opened the opportunity for buyers to step a little more. “
Stretches too notes The resistance of that bitcoin at around $ 84,000 seems to be about to crumble after he has been tested several times in recent days.
“There were the signs for a weakening resistance.
Now the price must confirm that this resistance is sufficiently weak to quickly become a support.
Bitcoin is a daily close to this level from going further to the benefit. “
At the time of writing, Bitcoin acts for $ 83,150.
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Generated image: midjourney
