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Trading news
18 Aug 2017
Bitcoin: Record highs & Bearish RSI divergence
Bitcoin clocked a fresh record high of $4464 levels in the overnight trade before falling to a low of $4175 levels.
The retreat from the record highs has confirmed a bearish price RSI divergence on the 4-hour chart. Despite the bearish reversal pattern, the bears are struggling to take out the rising trend line support currently seen around $4260 levels.
As discussed here yesterday, the record highs followed by bearish divergence could yield a bigger sell-off in the virtual currency.
As per coinmarketcap.com, BTC hasn’t changed much over the last 24 hours. BTC/USD currently trades around $4305 levels. The market cap of BTC currently stands at $71.08 billion.