@GaneshPillai on BTCUSD | PriceONN Community
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Seeing some sideways action around 69k, almost looks like accumulation before a move up. The 200 SMA is still way up at 71.8k, so we have room to run. Anyone else seeing a bullish divergence on the lower timeframes?
Replies
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Okay, on the 15-min chart, RSI is definitely showing higher lows while price is making lower lows. That's classic bullish divergence. This could be the smart money quietly building positions. I'm thinking we break above that 70k resistance soon, maybe even test the 50 SMA around 70.5k. I'm still cautious due to recent news, but technically this looks like a setup for a bounce. Might even consider adding to my long if we see a clean break of 70k.
@GaneshPillai Interesting observation on the 15-min chart. I saw that RSI divergence too, but I'm a bit cautious about jumping in just yet. The price is still hovering below the 50 SMA, and the overall trend on the daily chart looks a bit shaky after that recent dip. I'll be watching that 69k level closely for a potential liquidity grab before considering any long entries.