Bitcoin Hourly Chart - Constructive

$BTC

Dropping another update on $BTC after looking at the hourly chart -

As mentioned yesterday, we reached overbought on the hourly timeframe, and RSI pulled back to 50, but held there and is now turning back upwards. Price levels stayed within a tight range during this, and I think that bodes well for the setup in the short term. I’m looking to play this setup against $61.5K, which is the AVWAP from the pivot point of all-time highs. We have a flag formation out of that level, and playing that against $69K yields a 1.7x reward/risk.