Bitcoin (BTC) is striving to sustain its gains above the $50,000 mark as the maiden cryptocurrency seeks a new all-time high.
While a substantial portion of the market anticipates Bitcoin to continue its bullish momentum, supported by catalysts such as the upcoming halving, another segment believes that the leading crypto is on the verge of a potential crash in the coming days.
In particular, crypto analyst Alan Santana, in a TradingView post on February 16, suggested that Bitcoin is teetering on the edge of a significant decline following its recent valuation of $52,000, possibly marking a temporary peak.
The analysis centered around identifying a higher high in Bitcoin’s recent performance, amplifying a pronounced bearish divergence with the daily Relative Strength Index (RSI).
According to Santana, the session high on February 15 concluded with a Doji, a candlestick pattern indicating indecision, followed by a bearish start to the February 16 trading session.
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