Bitcoin's key momentum metric hints at bullish divergence as BTC clings to $33K
The RSI is seeing higher lows after rebounding from its oversold areas as Bitcoin price is forming lower lows. A recent run-down in the Bitcoin (BTC) market faces the prospects of exhaustion before confirming a full-fledged bearish breakdown, so reflects a classic momentum-based oscillator.RSI forming higher lowsDubbed as Relative Strength Index, or RSI, the indicator measures the speed as well as change of directional price movements. It operates within a set range of numbers—between 0 and 100. The close is RSI to 0, the weaker is the price momentum. Conversely, an RSI reading near 100....
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The relative strength index is making lower highs while correcting from its overbought area. The run-up in the Bitcoin (BTC) price toward $50,000 last week risks exhaustion due to a mismatch between the cryptocurrency's price and momentum trends.So it appears the Bitcoin's price and relative strength index (RSI) have been moving in the opposite direction since late July. In doing so, even a strong push higher in the BTC/USD bids has coincided with lower peaks in momentum, suggesting that the pair's upside momentum is weakening out.Bearish divergenceA normal RSI momentum tends to tail the....
The Bitcoin 4-hour price chart is seeing a bullish divergence and a TD9 buy as hopes for a relief rally rise. The price of Bitcoin (BTC) has rebounded strongly from sub-$17,600 to $18,400 in the past 24 hours. Now, two major technical indicators are signaling the likelihood for a larger relief rally.The 4-hour price chart of Bitcoin is showing a bullish divergence just as it prints a TD9 buy signal. Both indicators typically light up when an asset sees a strong sell-off and the selling pressure gets exhausted.The Bitcoin sell-off might be losing steamThe 4-hour bullish divergence and TD9....
Bitcoin has continued its decline since starting the week with a bearish breakout from the weekend consolidation range seen in the 1H chart. During the April 14th session, price fell to about 216 before the global April 15th session began. As we can see in the 1H chart, there is a bullish divergence between price and the RSI (A bullish divergence occurs when price makes lower lows but the RSI makes higher lows). This suggests a shift in momentum, or at least a deceleration, which can be a sign of upcoming consolidation or bullish correction. Bitcoin (BTCUSD) 1H Chart April 15. The 1H chart....
Dogecoin Price Key Highlights. Dogecoin price has been stuck in consolidation for quite some time, as support at the recent lows has been stubbornly holding. Selling pressure may have been exhausted around these levels, with bulls still trying to keep dogecoin price afloat. Dogecoin price might be due for a bounce, with the current floor refusing to give way and a bullish divergence materializing. Higher lows and lower lows. Stochastic has formed higher lows while price has formed lower lows from earlier in the month, creating a bullish divergence signal. This could be a sign that a....
Injective (INJ), a project known for its cross-chain derivatives protocol, is grabbing headlines after crypto analyst Javon Marks released a bullish prediction. Marks, a popular figure in the crypto space, believes INJ is poised for a “monstrous rally” towards a staggering $380 target. Related Reading: Solana Slides 13% – Can It Recover Despite Analyst’s $1,000 Prediction? This optimistic outlook comes amidst a generally volatile cryptocurrency market, leaving investors to wonder: is Injective really hurtling towards the moon, or is this a case of overzealous enthusiasm?....