There is a good news and a bad news and I will start with the bad news first. The bad news is that #Bitcoin has developed a bearish divergence on weekly chart, however, the bearish divergence is not that massive but since the timeframe is weekly so you really can't ignore this chart. Men lie women lie but charts don't lie.

Having said that I have a good news for you as well. If you watch closely the #RSI is creating a pattern on weekly time frame and this pattern is evidently bullish in nature. This pattern is Inverse Head and Shoulders. Yes, you are right you can draw the patterns on indicators as well. There is no said rule that chart patterns can only be drawn on price action and not on indicators. So, the current RSI is forming a bullish pattern and again you can’t really ignore that.

So what should one do? The answer to that question is that this is not a very good time to trade Bitcoin as due to these indicators it is under a massive choppy zone. Let the indicators be in favor of you then you should be dealing with it. For now I would suggest if you are a #hodler then it's fine else, as a trader, you should wait for the right opportunity to Long/Short.

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