{"id":411014,"date":"2020-01-14T22:29:03","date_gmt":"2020-01-14T22:29:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=411014"},"modified":"2024-06-11T13:40:31","modified_gmt":"2024-06-11T13:40:31","slug":"these-2-factors-show-bitcoin-price-will-drop-after-colossal-surge-to-8800","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/these-2-factors-show-bitcoin-price-will-drop-after-colossal-surge-to-8800\/","title":{"rendered":"These 2 Factors Show Bitcoin Price Will Drop After Colossal Surge to $8,800"},"content":{"rendered":"
Bitcoin has seen quick the surge over the past week. Per data from cryptocurrency markets site Coin360, the leading digital asset has gained 7.1% in the past seven days, rallying from the low-$8,000s to the current price of $8,750.<\/p>\n
Earlier today, Bitcoin was trading as high as $8,880, surging higher as altcoins such as Ethereum, Litecoin, and Bitcoin Satoshi Vision saw an explosion in its volume and buying pressure.<\/p>\n
Per a prominent analyst, there are two key factors that suggest bulls are currently overextended, suggesting a pullback is imminent.<\/p>\n
Josh Olszewicz, markets analyst at Brave New Coin, recently drew attention to two factors that suggest Bitcoin may fall or range trade at the current price range of $8,700 to $8,900.<\/p>\n
The first is that Bitcoin has formed a bearish divergence between the Relative Strength Index (RSI) and the price on a four-hour basis, suggesting a pullback.<\/p>\n
\n4h $BTC<\/a><\/p>\n
RSI bear div<\/p>\n
likely chill for a bit here pic.twitter.com\/pyt3jx8Qe8<\/a><\/p>\n
— #333kByJuly2025 (@CarpeNoctom) January 14, 2020<\/a><\/p><\/blockquote>\n