The article highlights a hidden bearish divergence on Bitcoin's chart, which suggests potential challenges ahead. The divergence occurs when Bitcoin's price shows lower highs while the Relative Strength Index (RSI) reflects higher highs, indicating a possible continuation of the bearish trend. However, the signal has not been fully confirmed yet. The key resistance level to watch is around $64,500, and if Bitcoin breaks through this level, the short-term bullish trend could continue. Conversely, if the price struggles to push through, the bearish trend may prevail. Support levels are located around $63,000 and between $60,200 and $61,200. Additionally, overbought signals are affecting Bitcoin, Ethereum, and Solana in the short term, suggesting limited room for price growth unless there's a reset. A short-term pullback or sideways movement could help reset the RSI and create space for another upward push. The short-term trend is currently bullish, but this can change rapidly. Breaking through the $64,500 resistance could lead to a push towards $79,000, while failure to do so may result in a return of the bearish trend. Confirmation of a breakout or continuation of the bearish trend will be crucial in the coming days.
- Content Editor ( coinpedia.org )
- 2024-09-22
Bitcoin Price Analysis: Hidden Threat Signals Pullback; Will Bitcoin Slip Below $60K Again?