Technical analysis by bitcosar about Symbol BTC on 12/14/2024

There is a view that has caught my attention on the Bitcoin price chart for a while now. I waited for other analysts to notice and share it, I didn't want to mention it in order not to influence anyone. However, no analyst seems to have noticed it so far. I have been following the market closely for a long time, I thought this view might be broken, but it still hasn't. Now I want to share this situation. Bitcoin In the price chart, we have been seeing rising highs for the last month. These rising highs show that the price is gaining momentum upwards. However, the RSI indicator creates falling highs despite the price rising. This situation is defined as 'divergence' in technical analysis and is known as negative (bearish) RSI divergence. If the RSI value decreases while the price is rising, this usually indicates that the market is losing strength and increases the possibility of a correction or pullback in the short/medium term. When negative RSI divergence occurs, the possibility of manipulation in price movements should not be ignored. In other words, there may be manipulation in price movements. Even if the price continues to rise, the fact that the RSI indicator does not support this rise suggests that the rise may not be permanent and carries a serious risk of decline. In the last month, Bitcoin price rose from 92K to 102K. However, during this process, the RSI value decreased from 85 to 64. In addition, Bitcoin has been trying to break the 102K resistance for the last 10 days; but it cannot achieve a permanent break above the 102K or even $ 102,500 level. I wanted to share this determination, but remember: You cannot act with a single data. All data should be evaluated holistically. This analysis does not mean "open a short position"; taking a risk with a single move can put you in a difficult situation. Be careful not to use leverage during this process and definitely have a cash balance in your portfolio. Being careful always pays. ✅ Mega Bull Season Free Altcoin My Basket: bit.ly/ibrahimcosar58 - Check out my basket to evaluate opportunities. ✅ BMK Crypto Education Academy: bit.ly/BMKAkademi (50% Discount) - Don't miss the training opportunity to specialize in the crypto world. NOTE: Those who have technical problems accessing my altcoin basket and BMK can send an e-mail to our official e-mail address info@bitcosar.com.