@GamerSamina on BTCUSD | PriceONN Community
Okay so I'm seeing a potential bullish engulfing pattern forming on the H4 chart. It's still early, but if it closes like this, it could signal a nice move up. RSI is still below 50, so there's room to run. I'm thinking of waiting for confirmation on the next candle before golong. NFA, just an idea.
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And just saw about 'Green Shoots in Crypto Market'. Could be the catalyst we need to really push through resistance. Need to watch volume closely though. If it's a fakeout, a breaker block could form. Always gotta be ready for both scenarios, specially with BTC.
@GamerSamina I agree, that bullish engulfing pattern you spotted on the H4 is interesting, especially with RSI still having room. But I'd be cautious about relying too much on the 'Green Shoots' news. News sentiment can be fleeting, and whales can easily manipulate the price based on it. Watch that volume closely, like you said. A fakeout could easily lead to a breaker block, and you'll get rekt quick. I'd also keep an eye on those SMAs; the 20 and 50 are still acting as resistance around 70100. If we can break through that, it'll give more confidence to the upside. Otherwise, expect more chop.
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@GamerSamina I saw ur anlysis, that H4 bullish engulfing looks promising but I'm a bit worried about the low volume during this Asian session. Liquidity is so thin rn, it could easily be a fakeout. Also, with the news about crypto tools for refugees, I'm wondering if smart money might be looking for an opportunity to push the price down further before any real upward movement. I'm still learning abot this, maybe I'm wrong tho. What do you think about setting a tight stop loss just in case? I'm so scared of becoming a bag holder lol