@davidrodriguez on BTCUSD | PriceONN Community
BTC is looking pretty overbought on the RSI right now, sitting at 80. Might be a good time to watch for a pullback before jumping in. I'm thinking a correction down to the 72000 range could be healthy before another leg up. Just my two cents!
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Update: Looking at the 4-hour chart (H4), there's a potential bearish divergence forming. If we see a break below 73000, that could confirm the pullback I mentioned earlier. I'm setting up some alerts around that level. Also, the volume hasn't been super convincing on this recent push, so I'm a bit cautious. A lot of people are probably thinking the same thing with the overbought conditions. I'm not shorting yet, but definitely not adding to any longs up here. Waiting for confirmation is key, imo. Gonna keep an eye on the 72500-73000 area. Might place a small short if it breaks down with volume. We'll see...