🚨 IMPORTANT BTCUSDT UPDATE
#BTC Analysis
Considering to take a look at the RSI momentum indicator H1, we actually reach into deep oversold territory, typically when the RSI reaches the oversold territory we have limited room to the downside for the price of #bitcoin .
For us to have a deeper move to the downside the RSI needs to reset a little bit and the way it does that is by forming a bullish divergence.
Bullish divergence simply means seeing a new low in the price of BTC and a higher low in the price of RSI as shown in the chart. and the effect is that price will start trading sideways or a little bounce back which will help the RSI move up quickly as we seeing currently. That is what you should keep in mind if you are still currently holding our shot position.
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