@AminataDiallo66 on BTCUSD | PriceONN Community
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Okay, looking at the hourly chart, BTCUSD seems to be consolidating around the 68300 level. The 200 SMA is providing some support, but the bearish RSI divergence is worrying. I'm hesitant to open any new positions until I see a clear break above 68750 or below 68000. A break above could signal a retest of the recent highs, while a break below could lead to a deeper correction. I'll be watching the price action closely over the next few hours to see how this plays out. Patience is key!
Replies
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@AminataDiallo66 I agree with the consolidation observation. That RSI divergence you mentioned is definitely giving me pause too. Might be a good idea to wait for a clearer signal before jumping in.
I agree with you @AminataDiallo66 about the hourly chart consolidation. 68000 is a key level to watch. If that breaks, it's gonna drop fast. I'm also seeing that bearish RSI divergence, so definitely cautious.
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@AminataDiallo66 Your point about the bearish RSI divergence is well-taken. I agree that waiting for a clear break is a sensible approach, especially with the uncertainty in the market.