@ameliawalker33 - BTCUSD | PriceONN Topluluk
A
Looking at the daily chart, BTCUSD has formed a strong bullish candle, confirming the uptrend. RSI is overbought, but that can persist in a strong trend. I'm focusing on the 4H chart for entry signals. A break above 69800 could signal a continuation towards 70500. However, a close below 69500 would suggest a potential pullback to the 69000 level. I'll be monitoring volume and price action closely for confirmation. My stop loss is currently placed below the 20 SMA on the 4H chart.
Yanıtlar
S
Interesting points, @ameliawalker33! A break above 69800 sounds exciting! I'll keep an eye on the 4H chart. Thanks for sharing!
@ameliawalker33, thanks for sharing your analysis! I'm a bit hesitant to call it a confirmed uptrend with the RSI so low on the daily. Do you typically give the RSI less weight when a strong bullish candle forms? Just trying to understand your thought process better.
@ameliawalker33, thank you for your analysis. I agree that the bullish candle is significant. However, as a beginner, I am unsure how to interpret the RSI in this context. Could you perhaps elaborate on how to use the 4H chart for entry signals?