“The Bullish Divergence Means the Stage Is Set for A Positive Resourve to A Potential Soft US”, – WRITE: www.coindesk.com
BTC Has Recently Taken A Beating, Falling from $ 100,000 Last Month to Under $ 80,000 this Week Due to Several Factors, Including Risk Aversion on Wall Street, Concerns About Trump The Disappointment Over the Lack of Fresh BTC Purchases Under Trump’s Strategic Reserve Plan Aded to the Downward Momentum.
However, As Prices Fell To Multi-Month Lows Below $ 80,000 On Tuesday, The Relative Strength Index (RSI) —A Widly Followed Mmentum Oscillator-Did Notable This Docline. The Indicator Produced A Higher Low, ContraDicting the Lower Low on the Price Chart, Confirming What Is KNOWN as the Bullish Rsi Divergence.
It Indicates that’s the aprice is going down, the momentum behind the Selling Is Weakening, Potentilly Signling and Upcoming Reversal to a Bullish Trend.
Bitcoin’s Daily Chart with the Rsi. (TradingView/Coindesk)
The Pattern Couldn’t have come at a more interesting Time Today, As The US Consumer Price Index for February, Schelyed for Release at 12:30 UTC, is Expecited to Show Progress. BTC’s Bullish Divergence of the Rsi Means the Stage Is Set for A Positive Responspoonse to A Potential Soft Reading.
According to cnbc, the Data is expert to show that headline cpi and the core figure, whoh excludes Food and Energy, Increasted by 0.3% month-on-month in February. That implies and Annualized Reading of 2.9% for the Headline CPI and 3.2% for the Core, Both 0.1 Percentage Point Lower than in January.
“Tonight’s CPI Print Could Set The Tone for Rate Expectations, As Markets Now Price In Four Fed Cuts This Year, UP from Just One in January. Will Inflation Data Validate This shift. Singapore-Based Crypto Trading FIRM QCP CAPITAL SAID IN A Telegram Broadcast.
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