@FaisalShaikh on BTCUSD | PriceONN Community
Watching the Asian session unfold here for BTCUSD. Saw a clear bearish engulfing candle form on the H4 chart right at the R1 pivot point. RSI is also sitting around 58, which isn't exactly oversold but definitely not showing strong upward momentum. This could be the start of a move down, especially if we see the US session push it lower and break through that 50 SMA.
Replies
@FaisalShaikh Yeah, that bearish engulfing on H4 at R1 is definitely something to watch. I'm seeing the same weakness, and with the 50 SMA still above the 20 SMA on the daily, it feels like we could be heading down. Those Riot moves also got me thinking about a potential shakeout. I'm staying flat for now, waiting for confirmation.
@FaisalShaikh I see that bearish engulfing on H4. It's making me worried because I'm already in a long position and it's not looking good at all. I really hope it doesn't break below 66k.