BTC Has Bearish Divergence
We have had conspicuous bearish divergence with overbought RSI during the climb from $67,000 to $69,000. No surprise that we are seeing a pause or retrace before an attempted move above $70,000, which is the key level.
It is likely we will see hidden bullish divergence if price stays here or goes lower - a lower low on RSI and a higher low on price, which would cancel the bearish divergence.
It is likely we will see hidden bullish divergence if price stays here or goes lower - a lower low on RSI and a higher low on price, which would cancel the bearish divergence.
scott.melker@texaswestcapital.com
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