Assessing the direction of Bitcoin’s price action, as bullish divergences show up
The king coin after smashing a move above the $49,000 mark rekindled the market’s hopes for a higher year-end Bitcoin price close after the over 30% price fall since its all-time high on November 10.
For the last one and a half months Bitcoin’s recovery after a dip has been a rather short-term pump, lasting for three days at most. While most of the macro market signals looked bullish as price maintained above the $48K level, BTC’s fall from the above $49.5K level raised some skepticism about the coin’s near-term trajectory.
Nonetheless, with bullish divergences knocking on the door, can BTC’S recovery sustain?
Signs of a pump
As Bitcoin established itself above the $48K level there were considerable bullish divergences presenting a reversal in
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