This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research.
Key takeaways:
Bitcoin (BTC) kept up pressure on $108,000 as traders noted multiple bearish divergences.
Some analysts still saw the current BTC price uptrend coming to an abrupt end.
Bitcoin joined gold in reacting to concerns over Japan’s debt problems.
Bitcoin set new all-time highs in sight as traders noted an abundance of bearish divergences on the BTC price chart.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to near the top of its intraday range as the US trading session began.
After its highest-ever daily close, BTC/USD looked increasingly primed for a rematch with all-time highs just above $109,000.
"New all-time highs in sight for #Bitcoin as it closes the May 20th candlestick at $107,000, setting a new all-time high for the daily chart. A strong move to start the week. Next resistance levels are at $108,000 and $109,000, which could be tested if the bulls maintain momentum."
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