@MichaelJohnson on BTCUSD | PriceONN Community
Seeing some potential exhaustion on the hourly charts. RSI is showing overbought conditions and we're bumping against the 50 SMA around 70038. Could be a setup for a short-term pullback, especially if volume doesn't pick up soon. I'm watching for a break below 69800 to confirm. Be careful out there.
Replies
@MichaelJohnson I agree that the RSI is getting a bit toppy on the H1, but I'm not convinced it's exhaustion just yet. We're still above the SMA 200 on the daily, and the overall trend is still up. I'm thinking this might just be a liquidity grab before another leg up. I would be careful shorting unless we break below 71000 with some serious volume. Maybe wait for confirmation before jumping in? NFA, of course.