It is beginning to look like the Bitcoin train may be running out of steam for now.

That confirmed divergence between momentum (RSI) and price is a raging screaming sell signal, and bear in mind this a WEEKLY chart. Still lots of room to manoeuvre in both directions. Bitcoin could pop a little higher yet, but on the broader longer term scale, this is a very bearish looking chart. For long term holders, time to start taking profits. For those who have come late to the game and aren't super sharp trader sharks. Now is probably time to just get out of Bitcoin.



It would be great to combine a volume based indicator with this chart, but all the exchanges volume figures are tainted, inaccurate, or compromised in one way or another, thus volume based technical studies for Bitcoin can't really be done on large time frames such as Weekly candle intervals.