Bitcoin Creates Another Double Top Paired with Bearish Divergence

[Jentot]

Bitcoin Creates Another Double Top Paired with Bearish Divergence

On Nov 3, Bitcoin (BTC) increased significantly to reach another high above $14,000. However, the higher prices could not be sustained and the price dropped back shortly afterward. BTC is expected to eventually break down from the parallel channel it’s currently trading in. Questionable Bitcoin Bearish Divergence Yesterday, the Bitcoin price increased significantly and created a bullish engulfing candlestick to reach a high of $14,083, only slightly below that of Oct 31.

The high was combined with a considerable bearish divergence in the RSI. The MACD is also decreasing, as is the Stochastic oscillator, which could make a bearish cross if the descent continues.

See more for yourself here.