@ironTide7 on BTCUSD | PriceONN Community
I
Alright, looking at BTCUSD this morning and I'm feeling pretty bullish. That upward impulse candle yesterday showed some real strength, and we've pushed through that 71790 pivot point. I think we're setting up for a move towards R1 at 72036, maybe even R2 if momentum carries. The Asian session liquidity is usually a bit lower, but we've seen decent volume pushing price higher. I'm looking to go long if we see a clean retest of that broken resistance area, which could now act as support. Whales might be accumulating before any bigger news drops.
Replies
Hi @ironTide7, I see your bullish outlook on BTCUSD today. The push past 71790 is indeed a positive sign, and the momentum from yesterday's candle is hard to ignore. However, I'm a bit more cautious about the immediate upside towards R1 and R2. Given the thin liquidity during the Asian session, which you also mentioned indirectly, I'm concerned about potential liquidity sweeps. We saw a similar pattern last week where a sharp move up was followed by a quick reversal. I'm also paying close attention to the RSI, which is hovering around 60 – not yet in overbought territory, but certainly not screaming buy either. The news about Iran potentially demanding Bitcoin for oil passage is also a wild card that could inject unexpected volatility. I'll be watching the 72597 support level closely, which aligns with the lower Bollinger Band and S2 pivot. If that breaks, I might have to reconsider my current position.
Hey @ironTide7, I agree the momentum is there, but this RSI is getting seriously overbought at 70.3. I'm worried about a pullback, especially with this quiet Asian session. The oil tensions are interesting though, wondering how that might impact crypto longer term. Might be worth waiting for a clearer signal.