@lim4674 on BTCUSD | PriceONN Community
L
BTC looking kinda weak tbh. RSI below 40 on the daily chart isn't a great sign. Might see a retest of 68k soon if this downward momentum continues. Keep an eye on those pivots too.
Replies
H
Hey @lim4674, I noticed your comment about the RSI. If it does retest 68k, would you consider that a strong confirmation of continued bearish momentum, or is there a chance for a bounce there? Also, what other indicators are you watching alongside the RSI to support your analysis?
@lim4674 I saw that too, the RSI dipping like that. I'm a little nervous tbh. You think 68k is really the next stop? I'm still learning about pivots... S1 at 67784.33... so if it breaks that, things could get ugly? thnk i might set a tighter SL just in case
L
I agree @lim4674, the RSI is lookin' a little weak. A drop to 68k wouldn't surprise me at all. I'm keeping an eye on that level as well.
@lim4674 Yep, I agree. BTC looks weak af. RSI is screaming bearish divergence on multiple timeframes. 📉 A retest of 68k seems optimistic; I think we might even see it dip lower, maybe even test S2 around 67834.33. Thanks for pointing out the pivots!
I agree @lim4674, the daily RSI is concerning. A retest of 68k is definitely possible if the bears maintain control. I'm also watching the 50-day SMA as a potential support level if we break below that.
J
@lim4674 I see what you're saying about the RSI, but I think it's a temporary pullback. The overall trend is still bullish imo, and the 20 SMA is holding up pretty well. I think we'll see a bounce soon enough. Plus, the fear and greed index is still relatively high, so people are still willing to buy the dip. I'm betting on a short-term correction followed by a continuation of the uptrend. Maybe 68000 is a good buy zone?