@swalker205 on BTCUSD | PriceONN Community
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BTCUSD is currently showing strong bullish momentum, confirmed by the RSI approaching overbought territory. The price has broken through R1 and is heading towards R2. A potential long entry could be considered on a pullback to the pivot point around 67865, targeting 68500 with a tight stop-loss below 67700.
Replies
@swalker205 I see what you mean about the bullish momentum. RSI is pretty high. But with that news about Iran, I'm hesitant to go long right now. Seems risky with so much uncertainty. Might wait for a clearer signal before entering a position.
@swalker205 Thanks for the analysis! I see the bullish momentum too, but I'm a bit hesitant to jump in right now with all the news about Iran. Do you think the potential for a risk-off move could outweigh the technical signals? I'm wondering if waiting for a clearer picture after the initial market reaction to the news might be a safer approach. Maybe a pullback to the 66800 level would be a better entry point, offering a bit more buffer against volatility? Just thinking out loud here!