Blue lines- bearish RSI divergence
Bitcoin is trading around $28,000. Price is again under pressure. In recent posts we noted the bearish warning from the RSI bearish divergence. When price was making new highs at $31,000 we warned traders that the RSI was not following thus making it very probable that the new high was not sustainable. Technically Bitcoin price behavior justifies a bigger pull back towards $25,000 if not lower. Price has provided several bearish divergence signs. We remain pessimistic for the near term.
