Bitcoin is currently working on printing bearish divergence with overbought RSI on the daily chart, which is obviously not ideal. The day is not over, so we do not have confirmation, which would come in the form of a clear elbow down on both RSI and price.
Right now it does not look great, but I assume this would just be a healthy retrace and then we would head back up.
Right now it does not look great, but I assume this would just be a healthy retrace and then we would head back up.
scott.melker@texaswestcapital.com