The Australian info A carefully followed crypto expert is releasing a caution to Bitcoin (BTC) bears that the crypto king is revealing indications of strength on the day-to-day and weekly charts. Pseudonymous expert Credible Crypto informs his 346,000 fans on the social media platform X that Bitcoin’s relative strength index (RSI) is flashing a traditional bullish divergence on the everyday chart while revealing a concealed bullish divergence on the weekly chart. In technical analysis, a traditional bullish divergence is usually seen as a turnaround signal while a concealed bullish divergence is a indication of pattern extension. Says Credible Crypto, “Largest liquidation occasion giventhat Dec ’21 (yes, almost 2 years ago), 2x that of FTX collapse. Classic bullish divergence on BTC day-to-day and concealed bullish divergence on BTC weekly (charts listedbelow portray both). BTC supremacy backtesting bullish breakout of two-year long variety. Calls for $20,000, $12,000 and $10,000 are putting in inspiteof no real break in the bullish market structure to signal any sort of shift in momentum (first break is at $24,800). Bears are asking to be definitely eliminated here.” Source: Credib
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