Bitcoin is starting to slow down on the dip and its pretty clear and i just found something great! A hidden bullish divergence, this signals a continuation in trend which in our case is still an uptrend! we have had a healthy correction for our structure and in order to keep going up, there is still a chance for us to see a little downside but it isn't super likely, the possible level i could see is 43K which we wicked at the beginning of the dip, what im thinking is possible is a retest of 43K and i would say a likely hold of that level. Looking at the MACD we are starting to look positive on the histogram with our daily bar starting to flatten out, this shows resistance on the bearish momentum and could more than likely lead to the start of a reversal and then ultimately a bullish cross! One thing we also have to watch is the bollinger bands this is where we can further tell where we are likely heading, if tomorrow or even tonight before close we start to press downwards we have to watch for our candle grabbing onto the bottom band as we would probably fall right down to that 43K level. On the other hand we are currently seeing 2 transition candles which could also be giving us a sign, what we want to see is some pushback from the bulls hopefully going to regain the 46 & 47k levels and then another test will be the midline coming from the BB, it is now clear resistance we are going to have to break above sooner than later. Besides the hidden bullish divergence on the stoch RSI we saw a nice bounce and we are now looking for that confirmed bullish cross and separation with the blue ontop of the orange! Not financial advice just my opinion!
