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Cryptocurrency expert and YouTuber Crypto Rover revealed in a recent video that Bitcoin has finally reached a bullish divergence on the daily chart. According to him, today’s rebound in the price of bitcoin reinforced the forecast for the growth of BTC.
The analyst stressed that the market should be looking to support the low of the range at this time, and after bouncing off the low of the range, the next target for Bitcoin would be to break the $17,000 mark.
Commenting on the four-hour chart, the YouTube channel host noted that the convergence / divergence of the moving averages of bitcoin (MACD) was bullish, which pushed the price of the coin up.
And while Bitcoin may show a V-shaped recovery, which is good for the entire crypto market, it will nonetheless be a weakening structure for Bitcoin. Until BTC breaks the previous high, the bearish trend will prevail.
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