Meraz
Short

Bitcoin RSI showing Bearish Divergence

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
934 6 3
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Comment:
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why is it a bearish divergence, the price moved up while rsi declined?
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Meraz retiringsoon1
@retiringsoon1, Yes,the price made higher high but RSI made lower high,we going down
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@Meraz, sorry but maybe i am not understanding well, so people sold and the price went up, that sounds bullish to me.
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Meraz retiringsoon1
@retiringsoon1,https://www.tradingview.com/x/aFqj1YVT/RSI shows direction
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Meraz Meraz
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@retiringsoon1 , basically it boils down to, it takes more from bulls to push the market higher. So higher highs are formed, but the difference between consecutive highs are getting less and less (highs are getting less high with each push). Until it collapses into lower highs and finally a fall down.,. Hope this makes sense.
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