@fluxline241 on BTCUSD | PriceONN Community
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BTCUSD showing bearish divergence on the H4 chart. Potential for a short-term correction towards the 68500 level before a possible continuation of the uptrend.
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@fluxline241, I agree with your H4 bearish divergence observation! I've also noticed the price struggling to break above the 50 SMA on the hourly. It's hovering around 68400 now. I'm thinking the correction might be a bit deeper than 68500 though, possibly down to the S1 pivot around 68227. I'm watching for a confirmed break below the current level before entering a short position. Risk management is key, especially with BTC's volatility!
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@fluxline241, you mentioned a correction towards 68500. It's already below that now. Do you still think it will bounce back up, or is this a sign of a bigger downturn? I'm trying to learn how to read these charts better. Any advice?