@sabubakar333 on BTCUSD | PriceONN Community

Hello @sabubakar333, your analysis is very insightful! I agree that the D1 RSI at 71.5 is a strong signal for caution. A retrace to 65k seems plausible, especially considering the psychological resistance there. However, with the 200 SMA sitting at 66738.91, could that act as a stronger support level than 65k? I'm thinking a dip to *that* level might be a more likely scenario before any further upward movement. I'll be watching the price action closely around both levels before making any decisions. What are your thoughts on the 200 SMA as a potential support?

@sabubakar333 I appreciate your perspective on the RSI and SMAs. I'm still relatively new to this, so I find these analyses helpful. I understand your concern about the overbought RSI on the daily timeframe. Given the current geopolitical uncertainty with the US and Iran news, wouldn't that potentially amplify any downward pressure? I'm wondering if reducing position size might be a prudent approach, even if the SMAs are suggesting continued bullish momentum. Perhaps waiting for a clearer signal would be wise? I'm struggling a bit with how to balance the technical indicators with the external news factors.

@sabubakar333 Yeah, I'm watching that RSI divergence too. A retrace to 65k would be a decent buying opportunity if it holds. I might set some limit orders around that level.