Technical analysis on Bitcoin for April 28th, 2023.
April 28, 2023 2:23 pm
Blue lines- bearish RSI divergence
Blue line – horizontal support
Bitcoin is trading around $29,300. Price is bouncing higher after making a low around $27,000. Technically trend remains bullish but there are some warning signs of a possible trend reversal. The RSI has provided bearish divergence warnings. The bearish divergence is only a warning, not a reversal signal. The RSI remains in a bearish trend making lower highs. Price remains vulnerable to a move lower towards $25,000 specially if recent low around $27,000 is broken.
The material has been provided by InstaForex Company – www.instaforex.com
Blue lines- bearish RSI divergence
Blue line – horizontal support
Bitcoin is trading around $29,300. Price is bouncing higher after making a low around $27,000. Technically trend remains bullish but there are some warning signs of a possible trend reversal. The RSI has provided bearish divergence warnings. The bearish divergence is only a warning, not a reversal signal. The RSI remains in a bearish trend making lower highs. Price remains vulnerable to a move lower towards $25,000 specially if recent low around $27,000 is broken.
The material has been provided by InstaForex Company – www.instaforex.com
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