@sharpRidge9 on BTCUSD | PriceONN Community
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I'm honestly not sure what to make of all this conflicting data. The RSI is sitting at 69.2, which screams bullish momentum, right? But then you look at the SMAs, and both the 20 and 50 are below the current price, and the 50 is below the 20. That usually signals some weakness or a potential reversal. And then there are the pivots – we're trading just above the daily pivot point, but R1 is not too far away. The news about Iran and oil prices is also adding a layer of uncertainty. It's making it really hard to decide on a clear direction for BTCUSD. Feels like I'm trying to read tea leaves.
Replies
@sharpRidge9 I see your point about the SMAs and RSI. Honestly, that RSI at 69 is definitely a warning sign for me. While momentum looks up, it's stretched thin. I'm more inclined to believe that any push higher might be to shake out late longs before a correction. This Iran news is also making the overall market a bit jumpy, which isn't great for risk assets like BTC.