BTCUSD Bullish Divergence

[aranacj]

Will BTC rage against the USD:

https://ibb.co/kqRPN8

Based on D1 chart and RSI, we can see that we have a bullish divergence.

Is this a right time to open a position?

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[cindygirl]

Hitting a new low for the year doesn't seem like that bullish of a signal to me. It does seem like a good time to buy though given the old adage of buying low and selling high.

[Proton2233]

Hitting a new low for the year doesn't seem like that bullish of a signal to me. It does seem like a good time to buy though given the old adage of buying low and selling high.

Before the market turns, it always shows a negative trend. Bears are grasping at the last opportunity to buy coins. I also see the market's readiness for growth, but this cannot be predicted. A reversal can happen at any time. It seems to me that bitcoin will not fall below 6000 dollars.

[shulio]

Instead of jumping in BTC right now, I will prefer to buy after the price get to 6500 dollars to be safer.

[susila_bai]

If you are thinking about investment then I think that you can start to buy in split so that if their  is any more low you can buy more but right now IS A good price to buy for shorterm profit

[BitHodler]

Instead of jumping in BTC right now, I will prefer to buy after the price get to 6500 dollars to be safer.

It depends on what your target is. If you plan to hodl for the long term, and I mean actual long term, then buying currently is the best possible option. It makes no sense to wait if your target is clear.

What difference does a few percent make when we at some point hover over the $100,000 mark? No difference. People turned bearish but these cycles are normal and temporary of nature ~ we'll turn sooner or later.

Just like it can't keep going up endlessly, it can't keep going down endlessly. Sellers are close to exhausting their resources and that's when we'll be going back up again. Patience is key.

[pawel7777]

Don't catch a falling knife. Volume is low. Sub 6k is still very possible.

[BitcoinNewbie15]

Don't catch a falling knife. Volume is low. Sub 6k is still very possible.

I agree, I'd argue sub $6k is looking pretty likely... It is interesting to see how we bounced off of the $59xx price range, so that gives me a little hope. But honestly, there is no reason to think that the bear market is over yet. I just hope these bulls take over soon...