Analyst Warns of Bearish Signal for Bitcoin Amid Price Correction
- Bitcoin has fallen to a three-month low, with current trading at $85,822.
- A bearish divergence is noted on Bitcoin’s weekly time frame by analyst Ali Martinez.
- The Relative Strength Index (RSI) shows lower lows and lower highs despite Bitcoin’s higher price levels.
- Martinez highlights a lack of significant support below $93,198 and $70,440.
- If the current cycle mirrors the first-halving cycle (2011-2015), Bitcoin may have peaked at $108,800.
Bitcoin is experiencing a bearish signal as identified by analyst Ali Martinez, who notes a divergence between price action and the RSI. The cryptocurrency currently trades at $85,822, lacking significant support below key price levels. Martinez suggests potential parallels with previous market cycles could indicate further corrections.
Source (2.6)https://dailyhodl.com/2025/02/28/crypto-trader-issues-bitcoin-alert-says-btc-flashing-signal-that-previously-triggered-a-bear-market/?rand=59076
