$BTC
There was a reaction from the 72,727 level. Is it a reversal?
Friends, Bitcoin fell $BTC to 72,727 in the evening, breaking below the 200-day moving average, then recovered. It is currently trading at around 73,600; it has now reclaimed both the 200-day moving average at 73,200 and its November 8 low of 73,510.
There is a noteworthy detail below. On the night of November 9, when the low was 73,510, the RSI on the hourly chart was 18. That same evening, the price fell further to 72,727, but the RSI remained at 31. The price made a lower low while the RSI made a higher low, signaling positive divergence on the hourly chart.
This is just a reaction, not yet a reversal. For a reversal to occur, the levels of 74,844–75,599 that I marked on the chart must be broken, one after the other. The first condition is for tonight’s daily close to be above 73,200.
If a new low below 72.727 is reached, the divergence will be invalidated, and the 72.500 and 70.000 levels will come into play.
We’ll continue to monitor.$BNB
There was a reaction from the 72,727 level. Is it a reversal?
Friends, Bitcoin fell $BTC to 72,727 in the evening, breaking below the 200-day moving average, then recovered. It is currently trading at around 73,600; it has now reclaimed both the 200-day moving average at 73,200 and its November 8 low of 73,510.
There is a noteworthy detail below. On the night of November 9, when the low was 73,510, the RSI on the hourly chart was 18. That same evening, the price fell further to 72,727, but the RSI remained at 31. The price made a lower low while the RSI made a higher low, signaling positive divergence on the hourly chart.
This is just a reaction, not yet a reversal. For a reversal to occur, the levels of 74,844–75,599 that I marked on the chart must be broken, one after the other. The first condition is for tonight’s daily close to be above 73,200.
If a new low below 72.727 is reached, the divergence will be invalidated, and the 72.500 and 70.000 levels will come into play.
We’ll continue to monitor.$BNB
