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  • BTC/USD is consolidating after the fall on Wednesday of around USD 600.
  • There is a bullish RSI divergence that has formed on the daily chart.


BTC/USD does not have a bullish trend as the market is still making lower lows and lower highs.

There could be a glimmer of hope because at the support level the RSI indicator has made a bullish divergence.

Also, there is trendline support which has been used four times in the past.

The bearishness is relentless at the moment with some major analysts calling for a drop to USD 6,500.

There has been some good news from ICE as Bakkt announced a options contract will launch in December this year.

Bitcoin analysis