We start the last week of May, almost closing Q2 and with an interesting formation here where we can see the RSI as it loses strength right now at 43.67 at the same time that the price has been stabilizing on the pivot line of around 9050 $. Till when? xD
It is possible that this divergence is an indicator of an upcoming bullish movement although it is also possible that the price will break to the downside looking for the next level around $ 8,000.
It all depends on how economic events unfold in the coming weeks.
Do not rule out imminent surprise, especially on the bearish side, although fundamentals indicate that it will take a little longer for price action to continue its upward path.
Cheers to all!
It is possible that this divergence is an indicator of an upcoming bullish movement although it is also possible that the price will break to the downside looking for the next level around $ 8,000.
It all depends on how economic events unfold in the coming weeks.
Do not rule out imminent surprise, especially on the bearish side, although fundamentals indicate that it will take a little longer for price action to continue its upward path.
Cheers to all!
