Bitcoin: Record highs & Bearish RSI divergence

Bitcoin clocked a fresh record high of $4464 levels in the overnight trade before falling to a low of $4175 levels. 

The retreat from the record highs has confirmed a bearish price RSI divergence on the 4-hour chart. Despite the bearish reversal pattern, the bears are struggling to take out the rising trend line support currently seen around $4260 levels. 

As discussed here yesterday, the record highs followed by bearish divergence could yield a bigger sell-off in the virtual currency. 

As per coinmarketcap.com, BTC hasn’t changed much over the last 24 hours. BTC/USD currently trades around $4305 levels. The market cap of BTC currently stands at $71.08 billion.