Bearish signal for BTC on 1W 🐻
Bearish divergence is a signal of a trend reversal and appears when the price updates its high, while the peaks of the RSI indicator decline.
Such a signal on the higher timeframe is a serious warning, but it is not a guarantee of the end of the bull market 😏
Here's what we can understand from this signal:
⏺ BTC still has a chance to return to $124k and even a new ATH. But it is unlikely that the price will rise above $130k unless the bearish divergence is broken.
⏺ If your analysis indicates that BTC will rise to $150k and above, then confirmation of this movement will be an RSI above 70.
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