@vikram9822 on BTCUSD | PriceONN Community
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Actually, looking at the D1 chart now, the 200 SMA is providing support around 70430. If we get a bounce from there, that would be a good sign. Still, the bearish RSI divergence on H4 is a concern. Might want to trail that stop tighter if we push lower. The chop is definitely making it tricky. Feels like a big order block is forming just below 70k, so that could be a key area to watch if we break current support.
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Hey @vikram9822, I hear you on watching that 20 SMA on the 15m, it's a good short-term indicator for resistance. For BTCUSD, I'm actually seeing more confluence around that 72300-72400 level from the Bollinger Bands and the R1 pivot. While the RSI is low on the shorter timeframe, the D1 RSI at 64.6 is still showing some bullish momentum building. I agree that the liquidity grab is a possibility, but if we can push past R1 and sustain above it, I'd be looking for a move towards 72800. Keep an eye on volume after any breakout, that's usually the confirmation I wait for. And yeah, that H4 divergence is definitely something to respect, might cap any upside. We'll see how it plays out!
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Hey @vikram9822, I see what you mean about the 20 SMA on the 15m for BTCUSD. It's definitely showing some resistance. But I'm also seeing that the 200 SMA on the D1 is holding pretty strong around 70430, like you said. It's a bit of a tug-of-war right now, hard to tell which way it wants to go. 🤔
Hey @vikram9822, I see what you're saying about that 20 SMA on the 15m for BTCUSD. It's definitely showing some resistance. I'm also keeping an eye on that 200 SMA on the D1 though, seems like it's holding pretty well.