Bitcoin Bearish Signals (MACD, RSI, MA200 & Trend)
2024-10-02

We are going to be looking at some basic signals related to Bitcoin and the current bearish action we are experiencing.


➖ MACD

The daily MACD produced a triple-top, is trending down and there is also a bearish cross. These are all bearish signals.




➖ RSI

The RSI is trending lower, straight down. A triple long-term top is also present here. The reading is 50; soon to enter the bearish zone.



➖ Lower Highs

We have some major lower highs since the All-Time High in March 2024.
In April 2024, in May and the ones seen on this chart: 

➖ MA200 (Moving averages)

Bitcoin moved and closed daily below MA200. As a bonus signal, we also have a rounded top and a break below EMA8, EMA13 and EMA21.



Thank you for reading.

Namaste.