BTC appears to be approaching the end of a rising wedge and may need to consolidate after reaching ATH's. Price has been unable to break and maintain 60k and appears to be nearing its reversal point. It will likely test 60k in the near term before drastically correcting.
It also appears to be indicating a classical Bearish divergence on MACD & RSI, both of which are demonstrating lower highs in contrast to the price momentum. Again, it may break upwards in the near-term, but a significant downside trend seems to be approaching.
@ypearson, The near-term top will likely test $6200 - $6500, unless the reversal happens before hand. There will prolly be a fairly obvious Bear flag when the consolidation period begins.
the is no bearish divergence on this high and the last one.... the last one and the one before yes but that's it
BillyMadison
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@dozyperturbator, Are u referring to MACD/Price or RSI/Price? Feb 21 - Mid March, the price trended to new highs as the MACD highs declined (diverged). It was the same for the RSI during the last 3 waves (since Jan). If you're referring to the current price momentum, then yes, they're currently converged, since momentum has slowed. Thats why I forecasted another near-term pump, then indicators will correlate as the price declines.
UnknownUnicorn13450804
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@BillyMadison, the RSI, there is no divergence on this recent wave with the last wave.
BillyMadison
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@dozyperturbator, Did u spot that bearish divergence yet lol