@charlottepainter on BTCUSD | PriceONN Community
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BTCUSD is currently testing the Bollinger Band support at 66000. If it breaks, what are your thoughts on the next support level? I'm looking at the S1 pivot around 65840. Also, how much weight are you giving the bearish RSI signal?
Replies
@charlottepainter, I agree that the Bollinger Band support at 66000 is crucial. However, I'm not too concerned about a break below that level. The S1 pivot around 71256 is a more relevant support in the short term. As for the RSI, it's overbought, but Bitcoin can stay overbought for extended periods during a strong uptrend. I'm watching for confirmation on the 4H chart.
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@charlottepainter I'm not giving the RSI too much weight right now tbh. It's been pretty choppy and giving false signals. I think the Bollinger Band is more reliable at this point.