Three warning signs are flashing red, indicating that Bitcoin may be due for another pullback. The Relative Strength Index (RSI) is currently overbought, signaling that a correction could be imminent. Additionally, the Bollinger Bands have made a significant move outward, which can often precede a price reversal.
Source
"Bitcoin Price Vulnerable to Correction" — CryptoPotato
This article is Bitcoincryptos' summary and analysis of reporting originally published by CryptoPotato. Read the full original report at the link above.
The MACD indicator has also reached an extreme peak, a sign that momentum may soon shift in favor of sellers. If these indicators hold true, Bitcoin's price could potentially drop to $30,000 by the end of the month.
BTC · 7D · $64,033+0.6%