Bitcoin

when

Verge

Read

Divergence

<p>The post <a href="https://coinpedia.org/news/bitcoin-on-the-verge-of-a-breakout-dont-miss-this-bullish-signal/">Don’t Miss This! Top 3 Reasons Why Bitcoin Price Will EXPLODE in July</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Well, it seems to be looking up for <a href="https://markets.coinpedia.org/bitcoin/">Bitcoin</a> bulls again! A prominent crypto trading analyst, Roman, has identified several technical signals suggesting a bullish continuation for Bitcoin. In his latest analysis, posted on X, Roman highlights key indicators that point to a potential uptrend, encouraging cryptocurrency traders to pay close attention.</p> 
<p>Curious to know what these signals are and why you shouldn’t miss them? Read on to unlock the secrets Roman reveals. </p> 
<h2 class="wp-block-heading" id="h-weekly-chart-reveals-bullish-divergence">Weekly Chart Reveals Bullish Divergence</h2> 
<p>Roman’s analysis focuses on the 1-week Bitcoin chart, where each candlestick represents one week of price action. He points out that with the recent weekly close, Bitcoin has established a third bullish divergence between its price and the Relative Strength Index (RSI). This divergence occurs when the price makes lower lows while the RSI makes higher lows, suggesting weakening selling pressure and a potential upward reversal.</p> 
<figure class="wp-block-image">
 <img decoding="async" width="900" height="532" src="https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-2.png" alt="" class="wp-image-321200" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-2.png 900w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-2-300x177.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-2-768x454.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-2-150x89.png 150w" sizes="(max-width: 900px) 100vw, 900px">
</figure> 
<h2 class="wp-block-heading" id="h-volume-trends-indicate-diminishing-selling-interest">Volume Trends Indicate Diminishing Selling Interest</h2> 
<p>In addition to the bullish divergence, Roman notes a significant observation in <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin’s price</a> action: the volume. He explains that the recent price movement down or sideways has been accompanied by decreasing volume. In a bullish context, this indicates that selling interest is diminishing. As fewer participants are willing to sell at lower prices, it sets the stage for buyers to step in and drive the price up.</p> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="900" src="https://image.coinpedia.org/wp-content/uploads/2024/07/01130431/image.png" alt="" class="wp-image-321198" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/01130431/image.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130431/image-300x169.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130431/image-1024x576.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130431/image-768x432.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130431/image-1536x864.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130431/image-390x220.png 390w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130431/image-150x84.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<h2 class="wp-block-heading" id="h-bollinger-bands-signal-impending-breakout">Bollinger Bands Signal Impending Breakout</h2> 
<p>Roman also highlights the behavior of Bollinger Bands on the Bitcoin chart. Currently, the bands are squeezing, meaning they are contracting and moving closer together. This squeeze indicates a period of low volatility and often precedes a breakout, signaling an upcoming increase in volatility. Traders watch for such squeezes as they can lead to significant price movements, providing potential trading opportunities.</p> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="900" src="https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-1.png" alt="" class="wp-image-321199" srcset="https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-1.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-1-300x169.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-1-1024x576.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-1-768x432.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-1-1536x864.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-1-390x220.png 390w, https://image.coinpedia.org/wp-content/uploads/2024/07/01130432/image-1-150x84.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<h2 class="wp-block-heading" id="a-bullish-continuation-in-sight">A Bullish Continuation in Sight?</h2> 
<p>Combining these factors—three bullish divergences, decreasing volume, and a Bollinger Bands squeeze—Roman’s analysis suggests that Bitcoin is poised for an uptrend continuation. Traders and investors should keep a close eye on these signals as Bitcoin could be set for a significant move upwards.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/heres-how-much-bitcoin-price-can-surge-in-july-top-analysts-weigh-in/" target="_blank" rel="noreferrer noopener">Here’s How Much Bitcoin Price Can Surge In July, Top Analysts Weigh In</a></p> 
<p><strong>Think Bitcoin’s done? Think again. This analysis might change your mind.</strong></p>

Don’t Miss This! Top 3 Reasons Why Bitcoin Price Will EXPLODE in July

Table of Contents

CoinPedia News

Outros artigos publicados em 1 de jul. de 2024

Jupiter’s Meow Teases Jupuary Relaunch, Voting Set for Coming Weeks

Crypto Rewind: What Experts Predicted For Bitcoin ETFs Before Approval

WEF Report: U.S. Economy Strong, Eurozone Weak, Global Recovery Faces Geopolitical Headwinds

Joe Fortune – Rising and Shining Star in Australian Online Casino

Bitcoin Shows Steady Growth in July

Biaoqing, an Asian memecoin, is outperforming the market

Join our free newsletter for daily crypto updates!