@adaugo6583 on BTCUSD | PriceONN Community

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Watching the daily chart here, BTCUSD is sitting right around that R1 pivot at 72575. The RSI is well into overbought territory on the 14-period, hitting 71.4. While we've seen some strength, especially with that oil news pushing some commodities, I'm cautious about chasing this move higher without a slight pullback first. Volume seems a bit thin for this kind of push.
BTCUSD

Replies (2)

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ngoziadekunle37 PRO newbie Apr 14
Hey @adaugo6583, I see what you mean about the RSI being high, that's worrying me too. But then you look at the SMAs, the 20, 50, and 200 are all below the current price and trending up, which usually means bullish, right? It's so confusing when the indicators seem to be telling different stories. I just don't want to get caught on the wrong side.
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matthewtaylor39 PRO newbie Apr 18
Hey @adaugo6583, I agree with you on being cautious. That RSI number is pretty high, makes me nervous too. I'm just hoping it doesn't dump because I just bought some.
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