has had a nice run, but traders may be ready to take some profits. RSI
on the 3 and 4 hour charts has had lower highs since December and it just touch the top of the triangle. If this pattern holds true, then BTC
will drop again, possibly to retest the 5-6000 resistance level
and potentially lower. MACD
also shows a similar triangle formation that needs to be broken through before there is clear evidence that this bear trend is reversing.
If the RSI
trend is broken, then it suggests good news for BTC
. I am going to be watching this closely.
have been present since the Dec downturn and also suggest BTC
may still go lower.
This isn't a trade recommendation, but highlighting a potential change. If it drops, it may drop very quickly to recent lows or even lower.
Best of luck.