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.
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