Tombaik

BTC: Bearish divergence and weaking market momentum

COINBASE:BTCUSD   Bitcoin
During last two days we have seen increasing trend in Bitcoin price however, the priced approached higher low trendline resistance and bounced of as expected. Histogram on MACD chart showed negative value for the first time since the beginning of the increase two days ago. Right now the MACD line moves in the same direction as price alongside with RSI and Stoch. This clearly indicates that we are past the divergence and further decrease is expected.

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