@fastLake1 on BTCUSD | PriceONN Community
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I'm also finding it tough to reconcile the RSI at 55 with the Bollinger Bands showing some tightening. The price is just hovering around the 20 SMA too. It's like every indicator is giving a slightly different story right now.
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Hey @fastLake1, I feel you on the conflicting signals. It's tricky when the RSI is middle-ground like that, doesn't give a clear oversold or overbought cue. But I've been watching this 50 SMA line, and it's been acting as a pretty solid support on the hourly chart. If you look at the last few hours, price has bounced off it twice now. Also, those breaking news about oil prices surging... I'm wondering if that's indirectly affecting risk sentiment and maybe pushing some money into assets like crypto, even if it's not a direct correlation. I'm leaning slightly bullish because of these bounces and the fact that we're still above the 20 SMA, but I'm keeping a tight stop just in case. The Bollinger Bands tightening could mean a breakout is imminent, we just need to see which way.