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aoeuaoeu
Feb 19, 2019 4:55 PM

Bitcoin Bearish RSI Divergence Short

Bitcoin / DollarBitfinex

Description

Bitcoin is displaying bearish divergence on the RSI. The divergence suggests that the bulls have exhausted their momentum, and the price will correct to reset the over-brought indicators before any further major price moves.

Comment


It may be possible that Bitcoin's retracement to be shallow. The price could form a triangle instead. The indicators would be reset, and it would be seen as a bull flag.

Trade closed manually


It appears that Bitcoin is forming an ascending triangle, which is a bull flag.
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