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BTCUSDis trending downwards, but the momentum indicator is trending upwards.
This pattern suggests that BTCUSD may be poised for a reversal, with the price potentially increasing intraday (and for the coming week). To confirm the bullish divergence pattern, we can see that the MACD has made a lower low and crossed on 15m timeframe. I'm expecting volume to increase during the upswing, indicating that more buyers are entering the market. Secondly, we might be on the lookout for a breakout above the previous resistance level, which would indicate a potential trend reversal.
If these additional signals are confirmed, I would consider this a strong buy signal for the coming week.
Trade safely and good luck!
BTCUSDis trending downwards, but the momentum indicator is trending upwards.
This pattern suggests that BTCUSD may be poised for a reversal, with the price potentially increasing intraday (and for the coming week). To confirm the bullish divergence pattern, we can see that the MACD has made a lower low and crossed on 15m timeframe. I'm expecting volume to increase during the upswing, indicating that more buyers are entering the market. Secondly, we might be on the lookout for a breakout above the previous resistance level, which would indicate a potential trend reversal.
If these additional signals are confirmed, I would consider this a strong buy signal for the coming week.
Trade safely and good luck!