Home Blockchain News Bitcoin Momentum Fails, Bearishly Overbought for the First Time Since 2017

Bitcoin Momentum Fails, Bearishly Overbought for the First Time Since 2017

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By CCN.com: According to a cryptocurrency trader, a technical indicator of bitcoin is signaling a potential downturn in the market for the first time since December 2017. The indicator, known as the Relative Strength Indicator (RSI) bearish divergence, signals a bearish downtrend and a decline in momentum. The RSI is typically utilized by traders to evaluate the momentum of the trend of an asset or a market. A bearish divergence flashes when the price of an asset, in this case bitcoin, rises while the RSI heads downwards, suggesting a lack of momentum. Although the RSI bearish divergence does not necessarily

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* First published on ccn.com

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