@oliversmith77 on BTCUSD | PriceONN Community
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I'm anticipating a move towards 68000 in the short term. The price is currently consolidating near the 20 SMA, and the RSI is showing signs of divergence. If it can break above the 67400 resistance level, we should see further upside momentum. Keep an eye on volume for confirmation.
Replies
Hey @oliversmith77, thanks for sharing your analysis! I'm still pretty new to this, so trying to learn as much as I can. When you say 'consolidation,' does that mean it's basically stuck in a range? 🤔 And how do you use volume to confirm a breakout? Is there a specific number or indicator you look for? I'm curious becaus ei'm trying to get better at spotting these opportunities myself! Also, whats youre TP and SL?
Hey @oliversmith77, thanks for the anlysis! I'm still learning about all this consolidation stuff, so it's super helpful to see how you're thinking about it. I was wondering, how long does consolidation usually last? Like, is there a typical timeframe to watch out for, or does it just depend on the specific chart? Also, do you use any other indicators besides RSI to confirm your divergence signals? I'm trying to get better at spotting those, but I always feel like I'm missing something! Maybe I should just stick to buying when it goes up lol 😂