Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
Bitcoin's rally shows waning momentum, underscored by a negative divergence between its price and the RSI momentum indicator, Swissblock analysts noted.
Digital asset analytics firm Swissblock said in a note on Wednesday that bitcoin nearly doubled in price from $38,000 in late January without any meaningful pullbacks, and a cooling period could be imminent. Swissblock analysts based their forecast on the negative bearish divergence between bitcoin's price inching higher but dwindling relative strength index on the 4-hour chart, foreshadowing lower prices. The RSI is a widely used momentum indicator that measures the speed and size of an asset's price changes.
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