Dump… again! I told you in my previous analysis that lower low is needed (lower than $41900) to form the true MACD bullish divergence. We are still waiting for this signal, but Bitcoin almost flashed another three strong bullish signals.
First of all, as you can see on the chart above, the Bitcoin is next to it’s global support trendline. Moreover if we take a look at the Elliott waves counting we can notice that it looks like the Wave 5 of this downtrend movement is going to end here. The divergence on the awesome oscillator usually define the Waves 3 and 5 peaks. We can see the same situation on the last increasing 5-Wave structure.
At the chart below you can see two strong buy signals on the Pifagor MFI anad Pifagor Big Guy. Big Guy demonstrates that huge whale’s purchases was this night. Pifagor MFI now is about to flash the strong buy signal, we should wait the daily close to confirm this signal. As you can see on the chart, this signal ususally catch the bottom.