⚠️ $BTC is flashing a bullish RSI divergence on the 4H — and downside momentum may be running out.
RSI is climbing while price grinds sideways in a tight range. That's the classic setup for a bottom forming soon.
I have 3 key confluences stacked around my target zone:
• The 0.702 Fib retracement
• Two structural trendlines — one of them a 9-year support level
Even if $BTC pushes down into that zone, I don't think it would be enough to reverse the broader RSI trend.
Still leaning toward this correction bottoming out — and it could easily end with a classic weekend bear trap before reversing on Monday.
RSI is climbing while price grinds sideways in a tight range. That's the classic setup for a bottom forming soon.
I have 3 key confluences stacked around my target zone:
• The 0.702 Fib retracement
• Two structural trendlines — one of them a 9-year support level
Even if $BTC pushes down into that zone, I don't think it would be enough to reverse the broader RSI trend.
Still leaning toward this correction bottoming out — and it could easily end with a classic weekend bear trap before reversing on Monday.