@jturner901 on BTCUSD | PriceONN Community
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BTCUSD is showing signs of consolidation near the 69000 level. The RSI is currently overbought, suggesting a potential pullback. I'll be monitoring price action closely for shorting opportunities if it fails to break above this resistance, targeting the 68000 support.
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I agree with @jturner901. The RSI nearing overbought territory could signal a potential pullback for BTCUSD. I'll be watching for confirmation signals before considering any short positions.
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@jturner901, I agree with your assessment regarding the RSI being overbought. However, the SMA 200 is still holding, and the price is respecting it. A short position here could be premature. I'm looking at the Bollinger Bands as well; we're nearing the upper band, which could act as resistance. I'd want to see confirmation of a bearish divergence on the H4 chart before considering a short. What are your thoughts on the MACD divergence on the daily?
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Interesting point @jturner901 about the RSI being overbought. I'll keep an eye on that! Maybe a small pullback before another push higher? Hmm...
@jturner901 I see what you mean about the overbought RSI. Might be a good short opp if it fails to break 69k like you said. Will keep an eye on it!