BITCOIN SHOWING A STRONG BEARISH DIVERGENCE

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BITCOIN SHOWING A STRONG BEARISH DIVERGENCEBitcoin / DollarBITFINEX:BTCUSDGustavoCorrea1Hello TradingView friends! Here’s my take on Bitcoin. As you can see in the chart, BTC price continues to make higher highs. However, the RSI is clearly making lower highs. This is a bearish divergence. In 2023, we saw the same pattern develop after Bitcoin broke above the 200-day SMA. Price continued making higher highs while the RSI formed lower highs. This eventually pushed price back down toward the 200-day SMA. Take a look: Could we see the same thing happen again? It’s definitely possible! And if it does, it could create a great opportunity for me to buy even more aggressively. Where is the 200-day SMA today? It’s currently around 71,000. I’m not saying you should sell everything now and sit on the sidelines. But I’m going to take some profits now and keep some cash available in case price comes back down toward 71K. What do you think? If you like my ideas, leave a boost and follow me on TradingView! See you next time!