@CarmenFernandez42 on BTCUSD | PriceONN Community
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I'm seeing a potential breaker block forming around 70500-70800. If BTC retraces to that level and holds, it could be a good entry point for another long position. Volume needs to stay strong though, otherwise it's just chop. The displacement candle earlier today was pretty significant, showing clear bullish intent. But with the RSI already high, a pullback is likely before another leg up.
Also keep an eye on those pivot points, R1 at 72236 is the next major hurdle. If we break that, then it's moon time! hahaha
Also keep an eye on those pivot points, R1 at 72236 is the next major hurdle. If we break that, then it's moon time! hahaha
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@CarmenFernandez42 I'm also watching that 70500-70800 level. Good call on the displacement candle, I saw that too! Let's see if it holds during the Asian session. NFA tho lol
@CarmenFernandez42, I agree with your analysis of the breaker block around 70500-70800. That displacement candle was indeed significant. I'm curious about your take on the RSI though. Do you think it's oversold enough to support a bounce from that level, or do you anticipate further downside before the long entry? I'm also keeping an eye on the 20 SMA, currently at 70056. A break below that could invalidate the bullish setup. Volume is definitely key, as you mentioned. Appreciate your insights!