@freddie8847 on BTCUSD | PriceONN Community

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freddie8847
Good evening everyone. I'm watching the Asian session unfold for BTCUSD. Given the recent strength, pushing past the 74000 level and now hovering around the R1 pivot at 74992, I'm cautiously optimistic about further upside. The RSI is in overbought territory at 70.1, which might suggest a pause, but the overall trend still feels bullish. I'm considering a long position if we can consolidate above 75000.
BTCUSD

Replies (1)

A
abimbola1056 PRO newbie Mar 20
Freddie, I see your optimism on BTCUSD, but tread carefully. The RSI is indeed hitting overbought levels on the H4, and we're seeing some bearish divergence forming on the MACD. Combined with the current bearish pressure from the wider markets due to those Middle East tensions, this could easily turn into a bull trap around these 74000+ levels. I'd look for a clear break of the S1 pivot at 69571 before considering any long positions.
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