BTC/USD bullish case : MID-term and Long term för BITFINEX:BTCUSD av Bitrageur

trendanalysis chartpattern doubletoporbottom btcusd bitcoin

There is a bullish divergence on the RSI on the 4hr chart, which hasn't showed up in the Daily chart (yet), but comparing the present scenario where BTC has retraced over 70% from high , with NIFTY in 2009 (link below) where it retraced over 60% and there too we can see this bullish RSI divergence and a formation of a double bottom. So even if BTC drops to 6k (which should be the bottom), which isn't a very likely scenario we would still be bullish in the mid term and long term.

NIFTY 2008-2009:

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