Bitcoin Still Diverging! Can The Bulls Hold The $42k Support?

10:57 pm, Sat, 7 August 21

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
End of day trading result for the top 36 cryptocurrencies by market capitalisation

The crypto bull run continues with Bitcoin leading the way with a more than 3% rally at the end of the day. This bullish move in the Bitcoin price played out eactly as we predicted, Bitcoin found support at the $42,411 key level on the 15 minutes timeframe before exploding. Warning: Massive Divergence Forming On Bitcoin! Watch This Level

This support also served as a valid order block for bullish momentum to renter back into the Bitcoin market, pushing Bitcoin to new highs and towards our $45k bullish target.

Bitcoin bullish price prediction from a previous Bitcoin analysis Warning: Massive Divergence Forming On Bitcoin! Watch This Level

However, we are seeing a steep decline in the bulish volume, and in this End of Day Analysis we will be breaking down the possible effects of this current bullish divergence playing out on the Bitcoin price chart.

To trade Bitcoin with leverage, sign-up to Bybit right now! You can also get up to $1,610 in deposit bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $30,030 in Bonus

100x Leverage

Bitcoin Still Diverging. What Does This Mean?

Bitcoin Still Diverging! Can The Bulls Hold The $42k Support?
Bitcoin Still Diverging! Can The Bulls Hold The $42k Support? Watch this levels playing out on the 15 minutes timeframe.

While Bitcoin might still be rallying, it is important to note that the Bitcoin price is doing so on a declining volume. This growing divergence between price and the bullish momentum is a weak signal for Bitcoin and might cause a price sell-off soon!

It is very important we start seeing bullish volume increase in the coming days, because right now, Bitcoin is rallying on steam. And that might finish anytime!

Bitcoin Still Diverging! Can The Bulls Hold The $42k Support?
Bitcoin Still Diverging! Bitcoin bearish price prediction on the 15 minutes timeframe. Will Bitcoin sell-off in the coming days?

The $42k Key Support

Bitcoin Still Diverging! Can The Bulls Hold The $42k Support?
Bitcoin Still Diverging! Can The Bulls Hold The $42k Support on the 15 minutes timeframe?

The key support we are still watching is the $42k support. As far as Bitcoin continues to trade above this 15 minutes support, we will remain bullish on the Bitcoin price.

However, a break below this support invalidates our bulish bias and points to more sell-off in the coming days. This makes it very important for the Bitcoin bulls to hold on to the $42k support level at all cost.

Claim up to $30,030 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: