RSI Divergent, is BTC in for a correction?
Hello beautiful person!
I am up tonight watching the U.S election and witness live the effect it will have on the BTC during it.
If you have read my previous posts, you know I have been writing about a second wave of the virus and lockdown; which will in turn affect the market negatively. I expected the second wave and more effect in September/October, so it seems I missed it there in months; but at least in Europe we are in a new lock down.
How will this affect BTC?
I believe that BTC is still correlated to the stock market in the sense that when we have a sell off in the markets, we will also have sell off in BTC.
However, BTC will gain again shortly after.
Short term bearish, long term bullish.
- check the chart for more info and trend lines.
- check the divergent in RSI.
- added fibonacci retracement indicator for the last "bull run".
Have a great night everyone, and stay safe!
I am up tonight watching the U.S election and witness live the effect it will have on the BTC during it.
If you have read my previous posts, you know I have been writing about a second wave of the virus and lockdown; which will in turn affect the market negatively. I expected the second wave and more effect in September/October, so it seems I missed it there in months; but at least in Europe we are in a new lock down.
How will this affect BTC?
I believe that BTC is still correlated to the stock market in the sense that when we have a sell off in the markets, we will also have sell off in BTC.
However, BTC will gain again shortly after.
Short term bearish, long term bullish.
- check the chart for more info and trend lines.
- check the divergent in RSI.
- added fibonacci retracement indicator for the last "bull run".
Have a great night everyone, and stay safe!
Happy hunting and stay safe!
כתב ויתור
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