Bullish divergence, TD9 ‘buy signal’ align for a new Bitcoin relief rally By Cointelegraph

Bullish divergence, TD9 ‘buy signal’ align for a new Bitcoin relief rally

The price of (BTC) has rebounded strongly from sub-$17,600 to $18,400 in the past 24 hours. Now, two major technical indicators are signaling the likelihood for a larger relief rally.

The 4-hour price chart of Bitcoin is showing a bullish divergence just as it prints a TD9 buy signal. Both indicators typically light up when an asset sees a strong sell-off and the selling pressure gets exhausted.

The Bitcoin 4-hour price chart with RSI. Source: TradingView, Scott Melker
The Bitcoin price versus USDT supply. Source: Glassnode