BTC EXHAUSTED
Looking at the chart, I see that Bitcoin (BTC) has reached a key resistance level near its all-time high, and the Stochastic indicator (Stoch) shows bearish divergence. This happens when the price makes a higher high while the Stoch oscillator fails to follow suit, making a lower high instead. Bearish divergence often signals potential weakening in upward momentum and could suggest an upcoming correction or reversal.
The Stoch indicator shows that BTC is in the overbought region (around 90), and the divergence could mean exhaustion in buying pressure. Combined with the fact that the price is near a major resistance zone, this could be an early warning sign for a potential bearish move.
The Stoch indicator shows that BTC is in the overbought region (around 90), and the divergence could mean exhaustion in buying pressure. Combined with the fact that the price is near a major resistance zone, this could be an early warning sign for a potential bearish move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.