• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Bitcoin

What To Expect As Bitcoin Pictures Bullish Divergence On Chart?

anushsamal by anushsamal
4 weeks ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

The Bitcoin price has been making a slight recovery on its chart. Although the coin has been consolidating over the past few weeks, BTC has been attempting to make an upward movement. Over the last 24 hours, the coin has registered a 0.6% appreciation.

Looking at the weekly progress, BTC has been stuck between two price levels of $16,400 and $16,900, respectively. Going by the technical outlook, the coin has depicted positive sentiments, with buyers slowly returning to the market.

It also formed a bullish pattern on the daily chart, which meant that the price might encounter a recovery over the upcoming trading sessions. The accumulation showed up on the chart, which meant that the coin was experiencing demand over the past trading sessions.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

BTC has also formed a double bottom pattern, which is a charting pattern that resonates with an upcoming major move for the king coin. At the moment, Bitcoin is trading 76% below its all-time high, which was secured in the past year. The market capitalization of BTC also noted an increase, signifying bullish strength building up.

Related Reading: Bitcoin Price Plays Catch-Up With Altcoins, Why $28,000 Is A Key Level

Bitcoin Price Analysis: One-Day Chart

Bitcoin
Bitcoin was priced at $16,800 on the one-day chart | Source: BTCUSD on TradingView

BTC was trading at $16,800 at the time of writing. The coin crossed the $16,800 mark as demand surged. Overhead resistance for Bitcoin stood at $17,000. The double bottom formed by Bitcoin might cause the coin to rally and move above $17,000.

On the other hand, if Bitcoin slips from its current price level, then the support zone for the coin stands at $16,400. A fall from $16,400 will drag the price down to $16,100. The amount of BTC traded in the last session was green, which meant that the coin was entering a bullish zone.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Technical Analysis

Bitcoin
Bitcoin depicted bullish divergence on the one-day chart | Source: BTCUSD on TradingView

Bitcoin demand has been increasing in recent trading sessions. The Relative Strength Index (RSI) moved up closer to the half-line and touched it, recording an increase in buyers. The RSI also formed a bullish divergence (white), which is a sign of positive price action.

Similarly, Bitcoin price travelled above the 20-Simple Moving Average line, which meant buyers were driving the price action in the market. A move above the 50-SMA will ensure the BTC price trades above the $17,400 mark.

Bitcoin
Bitcoin noted increased capital inflows on the one-day chart | Source: BTCUSD on TradingView

In relation to bullishness, other technical indicators have also sided with the incoming bullish force. The Chaikin Money Flow (CMF), which indicates capital inflows and outflows at a given time, registered positive movement.

CMF was positive and above the half-line, which portrayed an increase in capital inflows. The Moving Average Convergence Divergence (MACD) is responsible for reading price momentum and reversals of the same. MACD demonstrated green histograms, which were buy signals for the coin. This meant that Bitcoin could anticipate an increase in price.

Related Reading: Ethereum Stakers In Massive Loss As 80% of Staked ETH Is In The Red

Featured Image From UnSplash, Charts From TradingView.com
Tags: bitcoinbtcusdBTCUSDTcrypto
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
anushsamal

anushsamal

Related Posts

bitcoin price bull

Bitcoin Spiked to $23,960, But Traders Are Not Very Greedy

3 hours ago
Bitcoin Mining

This Level Could Be Crucial For Bitcoin, PoW Pricing Model Suggests

4 hours ago
Bitcoin

Bitcoin Volatility Ahead? Open Interest Registers Sharp Jump

14 hours ago
bitcoin mining difficulty adjustment

Bitcoin Mining Difficulty Touches New ATH Following 4.68% Adjustment

15 hours ago
Bitcoin U.S. institutional investors

U.S. Institutions Are Driving Bitcoin Prices, Matrixport Research

3 days ago
Bitcoin BTC

This Is How The Bitcoin Price Will Be Affected By Macro: Charles Edwards

5 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

“Gold has been the best performing investment asset over the last two decades”: an interview with Easygold

January 30, 2023

The Crypto Dream Team: Binance Coin (BNB), Polygon (MATIC) and Orbeon Protocol (ORBN)

January 30, 2023

Polygon (MATIC) and Fantom (FTM) Are Losing Favor With Investors As They Turn To Snowfall Protocol (SNW) For 1000x Potential Gains!

January 30, 2023

Tezos (XTZ) shares its 12th protocol upgrade, Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon (MATIC) Network while Snowfall Protocol (SNW) Breaks Record Highs

January 30, 2023

Snowfall Protocol Investors Happy After the Release of Snowfall DEX, Twitch Co-Founder’s Solana Gaming Platform Fractal Expands to Polygon, And Majority of Dogecoin Holders Are in Profits Despite the Meme Coin Being Down 87% From Its 2021 ATH

January 30, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.