Post
Topic
Board Speculation
Merits 6 from 4 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
dragonvslinux
on 29/07/2022, 11:44:38 UTC
⭐ Merited by El duderino_ (3) ,Toxic2040 (1) ,LFC_Bitcoin (1) ,JayJuanGee (1)
*Buddy breaker*

We still can’t break $25,000 with any conviction. Thinking this could be a fake out. Prove me wrong, bitcoin.

I would simply say (politely) "chill". The 4hr reached overbought conditions, it needs to chill out now realistically. Still plenty of room to the upside on the daily chart as RSI is barely in bullish territory. Price simply needs to cool off in the short-term, followed by finding support somewhere between $22K and $23K ideally. A weekly close around $22.5K is all that's needed now that a bullish wick has been printed on longer-term time-frames.

This is literally only the second re-test of $24K right now. At least wait for a 3rd or 4th before assuming that this resistance will hold imo. Hopefully the pull-back will be quick and swift to increase upside momentum.