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BannanaTrader
Aug 13, 2021 2:30 PM

Bitcoin Triple Top Formed 

Bitcoin/U.S. DollarFXCM

Description

As you can see, with the rsi is forming a bearish divergence, thus it is likely that bitcoin would fall very soon.
Furthermore, we are at the same resistance as the past 2 times.
In conclusion, it would be likely for btc to the major support line. (42K)
Comments
Zet4reticuli
What RSI Settings do you have?
BannanaTrader
@Zet4reticuli I have it in 14
BannanaTrader
Which is the default it comes with....seems to work rarely often
Zet4reticuli
@BannanaTrader, Thanks mate! It looked a bit different on my view, probably due to the resolution, I also have it on default 14 - in any case its a bearish divergence and I expect it to play out. Cheers
Zet4reticuli
@Zet4reticuli, its quite resistant so far though
Zet4reticuli
@Zet4reticuli, that didn't age well...
BannanaTrader
*fairly
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