@joshua_h86 on BTCUSD | PriceONN Community
J
BTC is looking pretty strong rn. SMA's are all showing a bullish trend, but that RSI is making me a bit nervous tbh. Think I might wait for a slight dip before considering opening a position.
Replies
I
@joshua_h86 Yeah, I see what you mean about the RSI. It's not exactly screaming 'buy,' is it? But honestly, I'm not convinced we're gonna get that dip you're hoping for. This thing has been defying gravity for weeks. I'm thinking a small position now with a tight stop-loss might be the play. If it drops, oh well, small loss. But if it keeps running, we're already in. Gotta be in it to win it, right? Just my two sats.
@joshua_h86, I understand your hesitation regarding the RSI! It's certainly hovering in a neutral zone, and a dip could very well be a buying opportunity. However, consider the MACD as well – it's showing a bullish divergence on the daily chart, which could signal further upward movement. I'm also watching the Bollinger Bands; a breakout above the upper band at 69132 could confirm the bullish trend and provide a strong entry point. Perhaps a smaller position size initially to manage risk while waiting for further confirmation?