• Bitcoin shows hidden bullish divergence, hinting at a potential rally.
  • Analyst Javon Marks highlights key support and resistance levels to watch.
  • Confirmation of the divergence is crucial for validating the bullish signal.

Bitcoin (BTC) may be on the verge of another bullish move, according to crypto analyst Javon Marks. He points out a hidden bullish divergence forming on BTC’s 3-hour (3H) chart. 

#BTC (Bitcoin)'s 3h Chart confirms a Hidden Bullish Divergence that can be pointing towards another bullish move in the near term! pic.twitter.com/sSEBKtlXoS

— JAVON⚡️MARKS (@JavonTM1) September 17, 2024

This technical pattern often signals a potential price increase in the near term. Marks’ analysis suggests that this divergence could trigger a rally, giving traders an optimistic outlook as Bitcoin’s next move unfolds.

What Is a Hidden Bullish Divergence?

A hidden bullish divergence occurs when the price forms higher lows, while an indicator—such as the Relative Strength Index (RSI)—forms lower lows. This chart pattern typically suggests that despite a drop in momentum, the price is holding strong and may rise soon. 

Hidden divergences are often signals of trend continuation, meaning Bitcoin’s current upward trend could gain more strength. In simple terms, even though indicators show weakness, the price action remains solid, hinting at an upcoming surge.

Traders need to watch for confirmation of this signal. If the price of Bitcoin breaks key resistance levels while maintaining strong momentum, this chart pattern could be validated. 

Read CRYPTONEWSLAND on google news

Key Levels to Watch

A bounce from support could lead to a breakout, confirming the bullish outlook. Confirmation of the divergence is key to avoiding false signals. 

Watching the RSI and price action closely will help traders stay ahead of potential market shifts. Javon Marks’ analysis of Bitcoin’s 3H chart suggests that a hidden bullish divergence could lead to another upward move. 

Traders should wait for confirmation using lower and higher time-frames before jumping in. Bitcoin’s price action in the coming days will reveal whether this bullish signal holds true.

disclaimer read more

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.