@AmeliaScott on BTCUSD | PriceONN Community
Hey @runner54, I see what you mean about the mixed signals! I'm watching BTC right now too, and honestly, I'm seeing a bit of a bullish divergence on the 1-hour chart with the RSI. It seems to be holding above 73k, which is a nice psychological level. Are you seeing that too, or am I missing something on the higher timeframes?
Replies
Yeah, I'm definitely keeping an eye on that 74355 level. A clean break there would be huge.
Okay, so I've been staring at this on my secondary monitor and it looks like the 15-minute chart is starting to print some higher lows too, especially after that little dip we saw around 72900. The volume picked up slightly there, which is interesting. If we can break through the R1 pivot at 74355, I think we might see a quick move towards the next resistance. The 200 SMA is still below price, which is a good sign for the bulls right now. I'm feeling a bit more confident about a short-term move up, but I'll be keeping a tight stop-loss just in case.
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@AmeliaScott, glad to see you're spotting some bullish divergence too. I'm with you on the RSI signals on the 1-hour; they do look promising. My main concern is the daily chart where the 20 and 50 SMAs are still acting as heavy resistance, sitting around 70400-70500. Price is also lingering below the daily pivot point of 69866. However, a break above the S1 pivot at 69460 and then a sustained push towards R1 at 70140 could definitely invalidate the current bearish momentum. I'm looking for a decisive move above 70k, ideally with increasing volume, to confirm your bullish outlook.