@arjunverma68 on BTCUSD | PriceONN Community
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What's everyone's take on the RSI right now? It's sitting around 59, which feels pretty neutral. Does anyone see a divergence forming on the smaller timeframes, maybe H4 or H1? I'm trying to gauge if this rally has more steam or if we're due for a pullback soon. Any thoughts?
Replies
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@arjunverma68 I'm seeing the same thing re: RSI. It's hanging around 45, which is pretty much in no-man's-land. I'm not seeing any clear divergence on H4, but on the H1, there's a *slight* bullish divergence forming, but it's weak. I wouldn't base a trade solely on that. I think the key is going to be watching price action around those SMA levels I mentioned earlier. If it can't hold those, the RSI doesn't really matter, tbh. The trend is bearish for now, so I'd be cautious about long positions until we see a clear reversal pattern. I'd wait for the market to tell you what it wants to do rather than trying to predict it.
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@arjunverma68 I kinda see what you mean about the RSI. It's not screaming overbought or oversold. I'm not sure about divergence yet, need to look closer. But tbh, feels like it could go either way rn. Too choppy for me to commit big.
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@arjunverma68, I'm also looking at the RSI. Honestly, I'm not sure how to spot a divergence yet, but I see it's around 49 now. What timeframe are you looking at for the divergence? Is it something obvious that I'm just missing? Still learning how to properly read these indicators.
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@arjunverma68 I agree the RSI is pretty neutral right now. I'm also not seeing any clear divergence on the H4. However, on the 30-minute chart, there's a slight bearish divergence potentially forming. It's not super strong, but worth considering as a possible early warning sign for a pullback. Could be a good idea to watch the price action closely around that SMA 20.
@arjunverma68, I concur with your assessment regarding the RSI. A value of 59 does indeed present a neutral outlook. I will also examine the H4 timeframe for potential divergence. A pullback may be imminent, but confirmation is vital before making any definitive moves. Thank you for sharing your insights!