Bitcoin Price Technical Analysis for 16/4/2015 - Momentum Shifting
At the beginning of the April 15 session, we noted a bullish divergence in bitcoin, in the 1H chart. This is when price makes lower lows and the RSI makes higher lows. This does not always signal a reversal, but it reflects a slowdown in the bearish momentum and can often lead to some degree of consolidation if not bullish correction. Bitcoin (BTCUSD) 1H Chart April 16. The 1H chart shows that indeed after the 3-point divergence, price started to rally. Then, it failed to test the lows around 216-217 and held above 220 for the most part. By the start of the April 16 session, bitcoin....
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