Bitcoin has made a historic move by breaking above the $100,000 mark, reaching as high as $103,620 in 24 hours, marking one of its most significant milestones. However, a bearish divergence in its RSI suggests a potential pullback could be imminent.
Bitcoin pulls off historic move with a push above $100,000. But bearish divergence suggests that a pullback could be on the cards.Bitcoin
Bullish December is unfolding well for Bitcoin as its price action pushed as high as $103,620 in the last 24 hours. But what next for BTC after this impressive milestone? Well, its price action may offer insights into the next possible move.While Bitcoin has been hitting higher highs, its RSI has been forming lower highs. As a result, the cryptocurrency is forming a bearish divergence. This suggests that a wave of sell pressure could commence soon.
CryptoQuant revealed that exchange flows dipped significantly in the last 24 hours, indicating a momentum slowdown. More notably, exchange inflows peaked at 28,466 BTC on 5th December, compared to 27,945 BTC in exchange outflows.Higher exchange inflows than outflows could signal a build-up in sell pressure. However, Bitcoin continued extending its upside and this could also be explained by on-chain data.
The open interest and positive funding rates also confirmed that there was no noteworthy uptick in sell pressure. Perhaps an indication that the market remains bullish, with expectations of more upside.
BITCOIN CRYPTO PRICE ACTION BEARISH DIVERGENCE $100 000
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana Surpasses $100 Billion in Monthly DEX Volume, Maintains Strong Transaction TallySolana has achieved significant milestones in November 2024, surpassing $100 billion in monthly decentralized exchange (DEX) volume and maintaining a record-breaking 11 billion transactions year-to-date. Despite a 2.58% dip in the last 24 hours, the coin's current price at $240.77 reflects its overall strength and ongoing market interest.
Read more »
$100 million up for grabs after no Lotto Max grand prize winner TuesdayAn estimated $100 million is up for grabs, including an $80-million Lotto Max jackpot, after Tuesday night’s Lotto Max draw ended without a grand prize winner.
Read more »
Trump Suggests Canada Becomes 51st State, Cites US$100 Billion Trade DeficitThe conservative cable network reported the President-elect's statement regarding Canada's trade deficit with the U.S. and his suggestion for Canada to either annex itself as the 51st state or split into more liberal and conservative parts to join the U.S. separately. Neither side commented on the remarks.
Read more »
Ford government urged to cap donations at $100 after fundraising controversyThe Progressive Conservative Party's fundraiser emailed all cabinet ministers, telling them to hold a certain number of fundraising events before the end of the year.
Read more »
Ontario strikes $100 million deal with Elon MuskThe Ontario Accelerated High-Speed internet Program is spending $4 billion to connect rural Canadians, and the provincial government is slicing $100 …
Read more »
McDonald’s invests $100-million to bring customers back after E. coli outbreakThe investments include $65 million that will go directly to the hardest-hit franchises, the company said
Read more »