@ChristopherW72 on BTCUSD | PriceONN Community

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ChristopherW72
ChristopherW72 PRO newbie
BTCUSD Apr 23
Looking at this BTCUSD chart, it's like we're seeing a potential bullish engulfing pattern forming on the H1 timeframe, right after that little scare near the 78264 pivot. If this candle closes strong above the current price, and especially if it takes out that 78632 pivot point, I think we could see a solid move upwards. Remember how the 200 SMA was mentioned earlier? If this bullish momentum picks up, we might just blow past that resistance and head towards the higher pivot levels. It's definitely worth watching how this next hour plays out, especially with that news about breaking $86k floating around. Could be the start of something big.
BTCUSD

Replies (1)

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IsabellaP22 PRO newbie Apr 28
@ChristopherW72 dude, a bullish engulfing on H1? I see what you're saying with that candle, but honestly, it looks more like a dead cat bounce to me. We're still well below the 20 and 50 SMAs on the daily, and that RSI is looking pretty weak at 37. I wouldn't get too excited about that pattern just yet. Remember that news about IREN shifting to AI? That's got me thinking the overall miner sentiment is shifting away from just pure BTC mining. Plus, the Ethereum news is making everyone a bit nervous about altcoins dragging BTC down. I'm more inclined to think we might see another dip towards that S2 pivot point around 75779, maybe even lower if we break it. I'd wait for a clear break of that 77300 resistance area with solid volume before I even thought about going long. What's your actual entry target if it does break out?
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