Bitcoin (BTC), the world’s biggest digital asset, has experienced a bearish divergence. Crypto enthusiasts and analysts are speculating whether a potential sell-off is on the way.
This development and discussions came only shortly after BTC staged an uptrend following the US Federal Reserve’s decision to cut interest rates.
The Current Bitcoin Market Outlook
In a recent X post, renowned crypto analyst Ali Martinez shared a TradingView chart analyzing Bitcoin’s current movement. According to the analysis, Bitcoin has formed a bearish divergence against the RSI on the 4-hour chart.
The Relative Strength Index (RSI) is a crucial metric that measures the pace and direction of a cryptocurrency’s recent price moves. The metric helps crypto traders identify market trends, overbought and oversold conditions, and potential reversals.
A bearish divergence in the RSI occurs when the price of Bitcoin makes a higher high while the RSI makes a lower high. This could suggest a p
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