Technical analysis by stanosky about Symbol BTC: Buy recommendation (9/10/2024)

The chart of bitcoin has drawn a bullish pattern on the hourly chart. Potentially, this is a great buying opportunity. However, I would be very cautious with this, as a diamond formation is clearly visible on the higher timeframes, which usually indicates a trend reversal. In addition, the RSI on many timeframes indicates bearish divergence (and especially the hidden ones).This is not financial advice.Bearish divergences4h chart: 1h chart: 15m chart:Pattern invalidated. It appears to have been a bull trap.