Crypto sentument still remains weak on Tuesday with Bitcoin trading 0.93% lower. There is a divergence on the RSI which can be an indication of slowing momentum. Bitcoin 1-Hour Chart There has been some serious selling momentum in the BTC/USD pair and the hourly chart below shows it. There has been an acceleration lower past the descending wedge pattern and the bottom of the pattern could provide some resistance. With this extra downside momentum, the market reached an extremely oversold level and now the momentum is wearing thin. The RSI divergence shows the market is making a lower low wave pattern but the RSI indicator made a few higher lows. This is just an indication and a break to the upside would need more confirmation like a break back above the 8,220.63 consolidation high Additional Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD Technical Analysis: Cable trading at weekly lows, challenging the 1.2910 level FX Street 3 years Crypto sentument still remains weak on Tuesday with Bitcoin trading 0.93% lower. There is a divergence on the RSI which can be an indication of slowing momentum. Bitcoin 1-Hour Chart There has been some serious selling momentum in the BTC/USD pair and the hourly chart below shows it. There has been an acceleration lower past the descending wedge pattern and the bottom of the pattern could provide some resistance. With this extra downside momentum, the market reached an extremely oversold level and now the momentum is wearing thin. The RSI divergence shows the market is making a lower low wave… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
