@nadiatan76 on BTCUSD | PriceONN Community
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My analysis on BTCUSD indicates a strong uptrend, with price holding above the 20-period SMA, which is currently around 66530. However, the RSI at nearly 80 is a significant red flag for sustained upward movement without a correction. While the price has pushed past the daily pivot at 69075, reaching towards R1 at 69369, maintaining this level might be challenging given the stretched indicators. A potential retest of the 68.5k support, perhaps S2, wouldn't be surprising before further attempts at breaking higher. For investors, entering at these levels carries increased risk. I'm observing for signs of divergence or a clear break below the 20-SMA on H4 before considering new positions. Risk management is paramount here.