FerroIgnique

First Time Ever Stoch RSI Event.

Short
BNC:BLX   Bitcoin Liquid Index
Bearish divergence on the weekly traced in green to the far left. In the Middle of the chart we can see the run up in 2017 that saw the price x3 to die with an RSI Double Top with higher price. Also of note is that we have not touched the 21w EMA since Sept which coincidentally was our last month with a red candle. We had several touches back in the 2017 rally denoted with blue arrows.
The Monthly: In order for this bull market to last and endure we are going to need to see some pullback along the way. The Monthly Stoch RSI has seen the K line move across 100 for two weeks once back in Aug of 2012, its done it again in 2021, but this is the FIRST TIME EVER in Feb the D Line has hit 100; and now in March, while not closed, the D line is still at 100. I do no see this lasting and look to the weekly divergence to pop the bubble.
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