Analysis: Bitcoin Weekly Chart Shows RSI Bearish Divergence Similar to 2021 Cycle Top, Potential for Over 50% Pullback
Technical analysis shows that Bitcoin's weekly chart is exhibiting a bearish RSI divergence similar to the 2021 cycle top, potentially leading to a pullback of over 50%, dropping towards $64,000. Trader Peter Brandt warns that Bitcoin must quickly reclaim its parabolic trendline, or its bull market cycle may end before reaching the target price of $150,000. (Cointelegraph)
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