@harish1969 on BTCUSD | PriceONN Community
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BTC is on a roll! Looks like it wants to break those resistance levels. RSI is getting a little toasty though, so might be wise to keep an eye out for a cool-off period. Could be a bumpy ride but the overall trend still looks bullish to me. Let's see if it can keep this momentum going!
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@harish1969 While the overall sentiment may appear bullish, the recent pullback warrants caution. The RSI, although not yet in overbought territory, is trending downwards, suggesting weakening momentum. A break below the 20-day SMA, currently around 68354.7, could signal a deeper correction towards the 50-day SMA. Monitoring price action around these key levels will be crucial in determining the short-term direction of BTCUSD. I would also keep an eye on the Bollinger Bands as the price approaches the lower band.
@harish1969 I agree, the RSI is looking a bit high. I'm seeing it near 60. I'm thinking there might be a pullback soon, but with the news I'm not sure how much it will affect things. Might be worth waiting for a dip before going long. What do you think?
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@harish1969 I agree that the overall trend still looks bullish, but that RSI is definitely something to watch. I'm thinking of waiting for a small pullback before adding to my long position. Maybe around 66800? 🤔 Gotta be patient and not FOMO in. Patience pays!
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@harish1969 I feel you on the RSI! It's screaming 'overbought,' but BTC just doesn't care, does it? haha. I'm thinking a small pullback is inevitable, but trying to time it is like trying to catch a greased pig. Might just wait for confirmation before shorting. Still bullish overall too tho tbh.
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@harish1969 Yeah, RSI was screaming overbought yesterday. A cool-off is definitely needed for BTC to sustain any further upward momentum. Agreed, still bullish overall but a healthy correction would be good before another leg up.