We expected Bitcoin to find support close to $ 6,250 but it plunged down to $ 6,120.45 on July 12. This invalidates our expectations of an inverse head and shoulders pattern. Still, if bulls defend the zone between $ 5900 and $ 6075, the digital currency can form a double bottom.
Led by Bitcoin, most cryptocurrencies are showing a positive divergence on the RSI. However, until confirmed by a bullish price action, we can not take a trade on the basis of this divergence alone
So, at what point does the trend change?
