@neha7080 on BTCUSD | PriceONN Community
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BTCUSD looking heavy here. RSI confirming the bearish divergence on the H4. Expecting further downside towards the 65k level, maybe even a test of the lower Bollinger Band. Be careful longing this dip, might be a bull trap.
Replies
@neha7080 I agree with your assessment regarding the bearish divergence. The lower Bollinger Band test seems plausible, but what would invalidate that scenario for you?
@neha7080 I see what you mean about the bearish divergence on the H4. But with the current bullish trend, I'm hesitant to go short just yet. Maybe wait for a confirmation below the SMA20 before considering a short position? BTC loves to fakeout! Plus, the RSI is still above 50, so there's still some bullish momentum left imo.