Bitcoin's Bull Run Faces Hurdles as Bearish Divergence Looms

The price of Bitcoin is continuing to rise, but some analysts are warning that bearish divergence could be on the horizon. In the 4-hour time frame, the price has been steadily grinding higher towards the $82,825 horizontal resistance level, a macro higher high. However, the Stochastic RSI and RSI indicators are trending downward, suggesting bearish divergence.

This trend could potentially send the price back down for a big correction. The weekly time frame view shows indecision, with a wick and tail of roughly similar lengths. If the price does not hold support at $79K, it could spell trouble.

The bulls may still be able to push the price up to take out the key overhead resistance level, but for now, momentum is faltering and bearish divergence is rearing its ugly head.