Doesn't the RSI should that BTC is less over bought despite it being at a higher price? Ie - it's stronger here than before?
Dr_Khaos
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That should say "Doesn't the RSI SHOW that BTC is less over bought despite it being at a higher price? Ie - it's stronger here than before? "
CuddleBuddy
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@Crypt0Cl0wn, it is showing that the buyers are losing momentum. When prices are higher, it is expected for the RSI to be higher, but here we are seeing the opposite. We are still waiting for candles to close to confirm for the bearish divergence. Bulls will need to push the price with a big pump to make the RSI move higher than the previous high to invalidate the divergence and remove it. Simply even though the price is higher, it is just showing there isn't enough momentum to keep the price at the higher prices and we should expect a pullback probably starting tomorrow.
Dr_Khaos
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@CuddleBuddy, Thanks for clarifying! Silly me thought that was the opposite. Thanks :)