Crown VS Bitcoin bullish divergence
|Today Crown has formed the bottom at 8365 satoshis, prior to which price broke above the descending channel. Nonetheless, it failed to break above the 8/1 Gann Fan trendline which formed the resistance at 12700 satoshis high.
The interesting point is that RSI has already formed a bullish divergence and at the same time broke the downtrend trendline, which could mean that CRW/BTC have some intentions to reverse to the upside or produce a corrective wave up.
Although price could go below todays’ low, it is still seems like the buying opportunity is just around the corner. But to confirm this it is better to way for a break and close above the 12700 satoshis resistance. Only then the corrective wave up should follow, which could result in a growth towards one of the previous resistance levels, either 20200, or 37000 satoshis.
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