After making its all-time high on Monday the Bitcoin price has lost trend and is making its way lower. Could this be the last chance to buy before a potential major rally that takes Bitcoin into new price territory?
A further fall for the Bitcoin price?
Source: TradingView
The 4-hour chart for the $BTC price shows how the price dipped below the short-term local uptrend and is now possibly making its way lower. The 0.236 Fibonacci, which is the most shallow of the Fibonacci retracements, has held the price up to now. However, there are signs that the price could start to make its way down to one of the lower Fibonacci levels.
Chief among these signs is bearish divergence. This is on the short-term time frame so it is not as reliable as for higher time frames, but it can be clearly seen that the price action was rising while the Stochastic RSI indicators and the RSI indicator were falling. This is likely to pull the price down lower if it plays out.
The question then is to w
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