Blue lines- bearish RSI divergence
Green line- support trend line
Bitcoin is trading around $22,700. Bitcoin made a move lower towards $22,300 earlier breaking below the short-term support trend line and providing a new sign of weakness. Bitcoin has now started a new sequence of lower lows and lower highs. The bearish RSI warning now is combined with a lower low and lower high. Bitcoin is vulnerable to a move lower towards $20,000 and maybe lower. Resistance is at $23,450. As long as price is below this level, short-term trend remains bearish.
