Red lines- bearish RSI divergence
Yellow rectangle- overbought levels
Bitcoin remains in a short-term bullish trend but traders need to be very cautious. The price continues for a second higher high but the RSI did not follow and instead provided a second lower high. Although technically the trend remains bullish, the RSI warns us that it is weakening. Short-term support is at yesterday's low at $22,328. A pull back is justified from current levels. Bulls should be patient for a pull back if they want to open new long positions.
