BTC/USD DAILY CHART – BEARISH RSI DIVERGENCE HINTS AT FADING UPSIDE MOMENTUM
BTC/USD appears to be eyeing a push to fresh record highs, as buyers key in on the current all-time high set on February 21 (58321).
However, significant bearish RSI divergence hints at fading bullish momentum and may ultimately trigger a short-term reversal lower, if buyers fail to hurdle the yearly high.
That being said, a significant amount of divergence has been displayed since the start of 2021, with the price of BTC climbing as much as 101%.
Nevertheless, if psychological resistance at 60,000 holds firm, a correction back towards the monthly low (46417) could be on the cards.
Alternatively, a daily close above 60,000 would probably signal the resumption of the primary uptrend and bring the 61.8% (61298) and 78.6% Fibonaccis (66226) into play.
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BTC/USD appears to be eyeing a push to fresh record highs, as buyers key in on the current all-time high set on February 21 (58321).
However, significant bearish RSI divergence hints at fading bullish momentum and may ultimately trigger a short-term reversal lower, if buyers fail to hurdle the yearly high.
That being said, a significant amount of divergence has been displayed since the start of 2021, with the price of BTC climbing as much as 101%.
Nevertheless, if psychological resistance at 60,000 holds firm, a correction back towards the monthly low (46417) could be on the cards.
Alternatively, a daily close above 60,000 would probably signal the resumption of the primary uptrend and bring the 61.8% (61298) and 78.6% Fibonaccis (66226) into play.
If you find this helpful and want more FREE Updates on TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
1_GFX English Support Team ❤️
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