Bitcoin Correction Amid Bearish Divergence :

Key Levels and Next Steps for Traders

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Overview :
Bitcoin (BTC) has entered a correction phase, influenced by widespread bearish divergence on the Relative Strength Index (RSI) across multiple timeframes. This development aligns with expectations, signaling an overbought market and paving the way for potential pullbacks.

Technical Highlights :

Current Condition :

RSI reflects overbought bearish divergence, leading to price declines.

Potential Reversal Signal :

Watch for hidden bullish divergence, which occurs when the price forms a higher low while RSI creates a lower low. A green day could trigger an upward RSI shift, signaling recovery.

No Clear End to Correction Yet :

Current conditions suggest patience as BTC searches for a bottom.

Key Resistance and Support Levels :
Immediate Resistance :

$38,500 (a breakout above confirms bullish momentum).

Support Levels :

$35,000 (initial) and $33,500 (stronger support zone for potential accumulation).

Pro-Tip for Investors :
Short-Term Traders :

Avoid entering positions prematurely; wait for confirmation of a reversal or hidden bullish divergence before committing capital.

Long-Term Investors :

Use corrections as an opportunity to accumulate BTC near support levels, provided it aligns with your broader investment strategy.

Advice :
Monitor RSI closely on 4-hour and daily charts for signs of bullish divergence.
Implement tight risk management to protect against further downside during this volatile period.

Conclusion :
BTC's correction phase is a natural response to overbought conditions. While no signal indicates an end to this correction, hidden bullish divergence could be a game-changer. Traders and investors must remain cautious, awaiting definitive trends before making decisions.