 Happy Sunday crypto friends! I hope you've all had a great weekend thus far. One of the things I talk about with respect to being a pretty good technical indicator is when the price action and RSI trends diverge. When they're in parallel, it's a good sign for directional continuation. When they converge or diverge, however, it's a different story. This usually gives us the heads up that some sort of directional change is coming. What we see now on the daily for BTC, is an RSI that has decreased with highs. Lower highs have seen lowering peaks, while the prices have made higher highs. Since this is the third iteration of this type of action, it's becoming increasingly likely that there are some bears in the midst ready to pounce. Supports are strong in the $5,000 level, but we have a HUGE resistance band that is in the $5,700-6,000 level which will be difficult to immediately break. 
| author | exxodus |
|---|---|
| permlink | bitcoin-diverging-rsi-s-could-signal-pullback |
| category | bitcoin |
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| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| steemitboard | 0 | 12,634,615,966 | 1% | ||
| mrakodrap | 0 | 1,873,398,516 | 10% | ||
| alvheid | 0 | 2,647,025,973 | 100% | ||
| exxodus | 0 | 24,585,649,416 | 100% | ||
| shakailove | 0 | 0 | 2.75% | ||
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| author | steemitboard |
|---|---|
| permlink | steemitboard-notify-exxodus-20190506t053408000z |
| category | bitcoin |
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