BTCUSD is poised for a correction as there is bearish divergence between the price and the RSI (see at the bottom of the chart).
Price sets new highs. However, these are not confirmed by the RSI as the RSI doesn't set new highs (see the blue lines)
--> The price increase is running out of steam as the price increase is not confirmed by momentum (indicated by the RSI)
Price sets new highs. However, these are not confirmed by the RSI as the RSI doesn't set new highs (see the blue lines)
--> The price increase is running out of steam as the price increase is not confirmed by momentum (indicated by the RSI)