Short

Bearish Divergence - RSI & MOM

Updated

Though we would much like to return to the 10K BTC , I'm beginning to gather evidence of our maintenance of sub 10K levels. As seen in the image, the RSI and MOM indicators are suggesting a pullback. Coupled with the 10K psych level, I suggest we don't have the juice, currently, to clear the resistance. Perhaps this will change in the longer time frames, but the RSI and many other indicators are suggesting we're severely overbought, even more so on the longer time frames.

Vroom vroom.

Note

Well, folks, 10K has been passed once again.

Bearish divergence is still in effect though, as the RSI and MOM indicators are still on a downward trend line above. I suspect that the euphoria that twitter and folks are experiencing will be met with resistance.

It is however possible, and I will maintain humility if the "Fomo" and/or momentum picks up as folks are looking at BTC vs its ATH as at a 50% discount.

We shall see. Until then, it's win win perhaps.

Vroom.

Note

Haha, well, well.

BTC just doesn't give a shit.

Lines for the extended RSI and MOM still hold, increased volume and daily green candles as far as the eye can see leads me to believe we'll hit higher prior to the pullback. Fomo's real, thanks "Libra"

Cheers

Intromoto

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