Forming Divergence on Bitcoin.


As we wrote in the previous posts, BITFINEX:BTCUSD price is targeting the final upward rise towards the golden pocket in the area of $11,241. Based on the volume and the level of RSI , if the price will able to reach this level then it will create a divergence on both of these indicators.

We are starting to monitor the short position as this looks like an optimal point of entry. However, it would be important to wait for the divergence and the potential formation of either a double top or horizontal channel with the area of redistribution on the top of that channel.

Best of luck with your trading!