1. Rising Wedge *While the price is moving higher, the trading range is being limited. This is a bearish sign. *We have had 2 attempts at breaking upwards out of the wedge, and 2 attempts at going lower. *Once we confirm the 3rd attempt at a breakout, we should start to see the upward trend reverse.
2. Bearish Divergence on the RSI *Notice the 2 peaks highlighted in yellow - on both the chart and the RSI. *The price of the 2nd peak, is higher than the 1st, but the RSI doesn't show an uptrend (between the 2 peaks).
Correction Time? Expecting it to drop off to around $9,000 level first, before maybe hitting $8,500. I would be surprised to see BTC break upwards out of this.