UTC-05:00,Monday , October 21st 2019

CoinDesk Analysis: Three Reasons Why Bitcoin Price Rally Has Stalled

06:48 Monday , April 15th 2019
According to the analysis of CoinDesk, the Bitcoin price rally looks to have stalled due to the following three factors: overbought conditions, bearish volume divergence, and forcing out weak hands before building breakout.
Extremely overbought conditions and other factors seem to have stalled Bitcoin's promising price rally.
Acceptance below $4,912 would validate signs of indecision on the weekly chart (doji candle) and open the doors for a deeper drop to $4,527 (200-day moving average).
A break above last week's high of $5,347 would invalidate the weekly chart doji candle, although an immediate rally to $6,000 looks unlikely with the daily RSI still flashing overbought conditions.
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