Investors once again began to show optimism about cryptocurrency, as Bitcoin (BTC) kept at $ 5,200 for several days in a row after the news about Bitfinex and Tether.
In a recent tweet, trader JaminXBT noted that the BTC daily chart has a “hidden bullish divergence” that looks almost identical to the Litecoin chart a few weeks ago. In the context of the JaminXBT analysis, bullish divergence is when prices rise and the relative strength index (RSI) falls.
If Bitcoin follows the trend set by Litecoin a few weeks ago, BTC will soon tend to increase, potentially exceeding the local maximum of $ 5,600, which it reached last week.
While this may seem like an unfounded assumption, trader analysis was confirmed by Credible Crypto and Benjamin Blunts, two popular analysts and commentators. But this is not the only technical indicator hinting that BTC can significantly increase, despite concerns about the legitimacy of Tether.
On the six-hour BTC on Binance, there are currently signs of an ascending triangle, which means that BTC can test $ 5,500 in the coming days and potentially even break further.
And what do you think about this?
