The Bitcoin market (BTC) has not been too unpredictable since early June, as anyone in space can see.
However, on closer inspection, the leading cryptocurrency faces a very important point, with hidden bullish divergence suggesting that the bulls may have enough strength to break through an important zone of resistance.
On the daily chart we can see why smaller movements are important. Bitcoin now squeezed very tightly under multiannual resistance resulting from market bulls since 2017
Low volume suggests that we will soon see an end to this movement as a breakthrough or breakdown.
If Bitcoin breaks up, it could lead to a large-scale move that could easily push the coin back to $ 20,000.
On the 4-hour chart we can see that Bitcoin is located in an upward channel. The price has done numerous tests of support around $ 9,400, confirming its strength.
In the relative strength index we see that throughout June there is a hidden bullish divergence to emphasize the upward trend of the price. This suggests that this rise may continue, breaking through the level of resistance.
If that happens, it will be the first time in two and a half years.