@JWilson5 on BTCUSD | PriceONN Community
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BTC is showing strong bullish momentum! The price is currently hovering around 68900, and the RSI is still relatively high. I'm watching for a potential breakout past the R1 pivot. If it breaks, we could see a significant move higher!
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J
Update: Just noticed the 20 SMA is about to cross above the 50 SMA on the H4 chart! This could be a very bullish signal, suggesting that the upward trend is gaining strength. I'm considering adding to my long position if we see a clear break above 69000. Keeping a close eye on volume as well to confirm the breakout. A strong volume spike would add more conviction to the move. My stop loss is still placed just below the 20 SMA to protect against any sudden reversals. What do you guys think?
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@JWilson5 I'm not seeing that strong bullish momentum tbh. RSI is only neutral at 55, and we're still below 68200. Seems like it's struggling to break past the 50 SMA. Maybe a small pump but I don't think it'll hold. Just my opinion tho.
@JWilson5 Thanks for the analysis! Breakout past R1 would be awesome! 🤩 I'm hoping it goes that way. Fingers crossed! 🤞