Blue lines- bearish RSI divergence
Blue line - horizontal support
Bitcoin is trading around $29,300. Price is bouncing higher after making a low around $27,000. Technically trend remains bullish but there are some warning signs of a possible trend reversal. The RSI has provided bearish divergence warnings. The bearish divergence is only a warning, not a reversal signal. The RSI remains in a bearish trend making lower highs. Price remains vulnerable to a move lower towards $25,000 specially if recent low around $27,000 is broken.
