Total Crypto Market keeps rising however...
...there is a strong divergence on the RSI at the Daily chart.
I have no idea how sustainable this situation can be, it clearly looks like a full-blown Bearish Divergence although if we look at the monthly chart, it does not seem that the RSI has reached its all-time high either:
We are at a monthly RSI of 92, there are still 6 points to go to reach the previous top from which the price collapsed in the previous bull-run cycle.
But it is worth to mention, that the current level of Monthly RSI corresponds in time to May-2017 in th past Bull-run cycle and the Total Market needed then 7 months more in order to reach its summit.
Will it be the same this time?
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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There's still time left until it blows off.
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The same goes for BTC, it is in a clear bearish divergence on daily candles, but it looks like it intends to explode to $75K perhaps. There is too much optimism from everyone in the world and probably there will be no divergence that will be worth. The upward momentum is stronger and I think we will see it soon.
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