Inverted chart to reduce biases.
So, let's flip the current chart and assume Bitcoin would in this type of downtrend.
Would you short this set-up?
1) RSI level 30, with bullish divergence. (inverted)
2) Sell volume getting noticably weaker every drop.
When these two happen on a high timeframe, it's generally a strong reversal sign. Though this latest rally hasn't really respected any bearish technicals.
But funny enough, this is exactly what happened in the 2018 bottom before the reversal. Here's the chart:
So, let's flip the current chart and assume Bitcoin would in this type of downtrend.
Would you short this set-up?
1) RSI level 30, with bullish divergence. (inverted)
2) Sell volume getting noticably weaker every drop.
When these two happen on a high timeframe, it's generally a strong reversal sign. Though this latest rally hasn't really respected any bearish technicals.
But funny enough, this is exactly what happened in the 2018 bottom before the reversal. Here's the chart: