BTCUSD looks overvalued when measured against Gold XAUUSD. Divergence can be seen on the weekly chart from two different points in the past. There is also a gap that has formed in the BTC futures market that also needs to be filled. So i'm hoping these two factors combined will offer a pullback in BTC to at least fill the gap somewhere between $9,500 - $10,000.
Note we need the weekly candle to close bearish to confirm this divergence.
Note we need the weekly candle to close bearish to confirm this divergence.