Bitcoin Bullish Divergence

The price bounced from 6500.00 level. RSI confirmed the price reversal in the oversold zone. MACD supports the possible upward movement. DMI is bearish but ADX falls and it allows opening long trades. Should we trust these signals and open long positions? I think we should and the previous bullish divergence confirms it. But we also should take into consideration the power of bears. The market still has potential for downward movement to 6000.00 level. But the short term retracement to the previous resistance levels is also possible.

Comentário:

The daily chart supports this trading idea. A reversal candlestick pattern and a bullish candle tell us that the price is going to bounce from the uptrend line. Let's wait for the close price from the daily chart. It will give us a confirmation of price reversal.