@AvaSailor - BTCUSD | PriceONN Topluluk
Hey everyone! I'm still trying to get my head around Ichimoku clouds and BTCUSD. I see the price is above the cloud and the Tenkan-sen is above the Kijun-sen, which usually means bullish, right? But the RSI is kinda neutral at 55. What do you guys think about the current setup around 74400? Is it a good spot to go long for a bit?
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Actually, thinking about it more, the cloud is quite thick still. Maybe it's better to wait for a clearer breakout or a pullback to the 20 SMA around 74350? Don't want to FOMO into a trade if it's just going to reverse. Need more confirmation!
@AvaSailor Morning Ava. Good observation on the Ichimoku setup. You're right, price above the cloud and TK cross is typically bullish. However, the current price action around 71154 is concerning given the significant drop overnight. The RSI at 30.6 confirms the bearish momentum, and we've sliced through the S1 pivot. The fact that the 200 SMA is now below current price action at 71797 is also a bearish signal. I'd be cautious about calling this bullish right now. We might see a retest of the lower Bollinger band near 69800 before any sustained recovery, if at all. The ASIAN session liquidity isn't usually strong enough to reverse such a sharp move without further catalyst.
@AvaSailor Hey Ava, I caught some of your Ichimoku thoughts. You're right to be cautious with that thick cloud. While price above is generally bullish, the current chop around 70k is definitely a red flag. I'd agree with waiting for a clearer signal. The Tenkan/Kijun cross is a good indicator, but it's not infallible, especially in choppy markets like this. I'd also be looking at the S2 pivot around 69245 as a potential short-term support. If that breaks with conviction, we might see a faster move towards the lower Bollinger band near 69548. Don't rush into trades, especially with leverage. Patience is key.
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@AvaSailor Morning Ava. You're right to question that thick cloud on BTCUSD. It's a classic trap setting up, I swear. Price above it is supposed to be bullish, but look at how it's just grinding sideways. These algo traders just love to chop us up in these zones. They push it up a bit, lure in the bulls, then drop it to grab liquidity. I wouldn't trust any of that Ichimoku signal in this mess. The RSI being at 58 means nothing, they can easily spike it or drop it from there. Honestly, I'm expecting it to fail and head lower, probably towards that 20 SMA you mentioned, but even that might not hold with how manipulated this market is.