ScottMelker

BTC Has Bearish Divergence

BINANCE:BTCUSDT   Bitcoin / Tether
Bitcoin has bearish divergence with overbought RSI on the 4-hour chart - the exact opposite signal that it gave us at the bottom, when we had bullish divergence with oversold RSI.

I was not paying much attention yesterday, but this was a clear signal that I should have noticed. RSI is already half way to oversold, so this does not necessarily mean a big move is coming. A lot of chop here, honestly.

scott.melker@texaswestcapital.com
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.