Happy Tuesday all! I hope the weekend was great for you all. Just wanted to check up on the markets.
The big thing we are seeing now is a bull flag on BTC. Bear volume is declining, and I'm expecting support to hit before too long. From there, bulls should have signals to step in and rally. This was a normal setup and allows the RSI to normalize.
I do anticipate only one (two max) more leg up before a pullback. Short term trends are bullish, but weekly charts are seeing RSI at 80. We also saw a bull volume climax bar so far, so we're looking at a peak soon.
Daily RSI is seeing lower highs for higher high prices, so this divergence is another indicator of a reversal here before too long.
More updates to follow!
