Been watching BTCUSD consolidate around 67000. Seems like everyone's waiting for a catalyst. I'm curious what others are seeing on the daily chart? Any thoughts on potential breakout or breakdown levels? I'm leaning bullish but the RSI isn't giving me much confidence either way.
@TimothyThompson Yeah, I'm seeing the same consolidation. RSI is kinda useless right now. I'm waiting for a clear breakout before I commit either way.
J
jwilson222PROnewbieFeb 28
@TimothyThompson I see the consolidation you're mentioning. The daily chart is indecisive, agreed. However, given the potential risk-off sentiment with the news out of Iran, I'm leaning towards a breakdown. A break below the lower Bollinger Band (around 63000 now) could trigger a significant move downwards. RSI isn't confirming anything yet, so waiting for more confirmation before committing fully. I would be wary of a long position at this point, given the global uncertainty. Better safe than sorry.