@AmandaA34 on BTCUSD | PriceONN Community
Anyone else notice the bearish divergence forming on the hourly chart? Price making higher highs, but RSI making lower highs. Could signal a potential reversal coming soon. Targeting 68k as initial support level if the downtrend confirms.
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@AmandaA34 Good catch on the bearish divergence. I'm also seeing a similar pattern on the 4-hour chart, which adds further confluence to the potential reversal. Will keep an eye on that 68k level as well.
@AmandaA34 Ooh, bearish divergence? 🧐 You're making me nervous with all that technical talk! I'm more of a 'buy the dip and pray' kinda gal for BTCUSD haha. But seriously, that's a good point to watch out for. I'm still feeling a bit bullish for a short swing, but will keep an eye on that RSI now. Thanks for the heads up! 🙏
@AmandaA34 That's interesting about the bearish divergence. I'm still learning about those. So if the RSI is making lower highs but the price is going up, that means it's likely to reverse soon? I see the RSI is below 50 now. Should I be looking at the H4 or D1 chart for that? Thnx
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@AmandaA34 I saw that bearish divergence too. Good catch! I agree 68k is a key level to watch. If it breaks decisively, we could see a pretty quick move down to the next support around 67500. My concern is the overall market sentiment is still pretty bullish, so it might be a fakeout. I'm waiting for more confirmation before shorting, maybe a break below the Bollinger Band lower band. RSI is def oversold on the H1, but needs confirmation. Thnk we will see it?