Bitcoin’s price has dropped from $100,000 last month to below $80,000 this week. Despite this decline, a bullish RSI divergence has emerged on the daily price chart. The relative strength index (RSI) showed a higher low while the price hit a lower low, indicating weakening selling momentum. This pattern suggests a potential reversal to a bullish trend. The divergence coincides with the upcoming U.S. consumer price index (CPI) release for February, expected at 12:30 UTC. The CPI is projected to show a 0.3% month-on-month increase for both headline and core figures, resulting in annualized rates of 2.9% and 3.2% respectively, both 0.1 percentage points lower than January. Markets are currently anticipating four Federal Reserve rate cuts this year, up from one in January. Tonight’s CPI data could influence these expectations and set the tone for future market movements.
Rekt Capital
@rektcapital
·
Feb 19 #BTC
Subtle Lower Lows on the price action
And Higher Lows on the RSI
Potential early-stage Bullish Divergence developing on the Daily timeframe
$BTC #Crypto #Bitcoin
Bruna Brambatti
@BrambattiBruna
·
9m GM!
Bitcoin just pulled a classic trick, bullish RSI divergence on the daily. Bears had their fun, but momentum might be shifting. Just in time for CPI data… coincidence?
I don’t think so…
Bitcoin Munger
@bitcoinmunger
·
Mar 17, 2024 Observing positive signals on the 4-hour #Bitcoin chart: Namely bullish divergence in on-balance volume and RSI completely reset (hasn’t been this low since $40k level).
2 potential paths, but I continue to lean towards the market not giving the $62k and below bidders a chance
Trader Tardigrade
@TATrader_Alan
·
Feb 13, 2024 A hidden bullish divergence is a setup implying the price has a bigger chance to get higher in the future.
#Bitcoin RSI forms progressively lower lows at the same time that #Bitcoin is forming higher lows.
Trader Tardigrade
@TATrader_Alan
·
Apr 9, 2024 #Bitcoin RSI Hidden Bullish Divergence has formed on H4 chart
Hidden bullish divergence happens here while $BTC makes a higher low (HL), but RSI is showing a lower low (LL). This signals the possible uptrend continuation.
Trader Tardigrade
@TATrader_Alan
·
Jan 31, 2024 #Bitcoin H4 chart shows an Ascending Channel and $BTC is right at the support.
Hidden Bullish divergence is seen in RSI, in which RSI is printing a lower low while $BTC has a higher low.
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