Signs of a Bitcoin reversal?steemCreated with Sketch.

in #bitcoin3 years ago

I just leave this Bitcoin chart here with some notes. We may be seeing the early signs of a reversal building up. However, divergences are not reliable indicators and for a better signal, it would better if Bitcoin sets a lower low (lower than $5,9xx in the previous downturn).


Nevertheless, It gives me hope and it is always good to acknowledge that we are still way ahead of price during the larger part of 2017. No worries.


The last time we were similarly negative was Aug 2016. We're in a seasonable favorable time period and cyclically we're also due for a bounce. Everything looks in favor of a short term rally and the opposite could cause a small panic. What's very certain is that critical intermediate term support is clearly drawn.

Thanks for your response. I also think more support is growing, but price may linger for a while longer. We just need to be patient if needed.

Patience is the name of the game right now!

@cryptographic, the bull market is obviously started? Or still in its kinda starting stage? Not full-blown I mean.

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