Bitcoin’s rally may stall near term as we are approaching some key resistance.

Bitcoin has spent all of 2019 building a strong base that it has rallied from. However, we are now quickly approaching key resistance at the 8691 161 Fibonacci extension of the Nov 2018 highs to the 2018 lows. In addition, the all time highs to lows 38% retracement is at the 9504 level. RSI is overbought and divergent which suggest near term the rally could run out of steam.

Bitcoin

Blake Morrow