@ABaig41 on BTCUSD | PriceONN Community
Amit, I see your point about the oversold RSI and lower Bollinger band on BTCUSD. From my end on the H4 chart, I'm noticing some bullish divergence forming with the MACD. It's still early days, but this thin liquidity session might just provide the quiet calm before a potential reversal. Anyone else spotting this?
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Also, keep an eye on the 71179 R2 level. If we get a strong push and break that, it could signal a more significant move higher.
Yeah, that divergence on the MACD is what's catching my eye. On the 200 SMA, we're clearly below it, which is bearish short-term, but the 50 SMA is still above the 20 SMA. It's a bit of a mixed bag technically, but this setup feels like it could be a good risk/reward entry for a swing long if we can break above the pivot point around 70405. I'm not going to chase it though, waiting for a cleaner confirmation, maybe a close above R1 at 70861 on higher volume. This session is so slow it's making my eyes cross.
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@ABaig41 totally feel you on that divergence. I've been staring at the 15m chart and it's looking like a liquidity grab below 69k is happening right now. Smart money knows everyone's looking at that RSI and Bollinger band, so they're faking a breakdown to shake out weak hands. If we can clear that 69288 S1 and hold it, I'm throwing another 100x leverage long at it. Seriously, this whole crypto market is just one big casino, and I'm here to hit the jackpot. Forget the 200 SMA, that's for boomers. We're going for the squeeze play here, watch for displacement candles above 70k.