Published on September 15th, 2017 | by bitcoin0
Bitcoin is back at $3,500: has its value found a short-run bottom?
Bitcoin may have found a short-term bottom
The previous article had talked about a potential bullish price RSI divergence on the 4-hour chart.
Well, the 4-hour chart is yet to confirm the bullish divergence, however, it has been confirmed on the 1-hour chart.
The chart above shows the bullish price RSI divergence (lower lows on the price chart and higher lows on the RSI).
The bullish pattern on the 1-hour chart indicates that bitcoin sell-off has run out of steam for now.
Avoid being over ambitious
The bullish setup on the 1-hour chart is valid for a couple of hours.