@DanielMusic on BTCUSD | PriceONN Community
Based on current momentum and RSI nearing overbought levels, a short-term pullback in BTCUSD is plausible. I'd anticipate some resistance around the R1 pivot at 71742. A break above that could signal further upside, but I'm inclined to think we'll see a test of the 70800 support before any sustained rally. Manage risk accordingly.
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Update: Observing price action closely around the R1 pivot. Volume seems to be tapering off slightly, which could support the pullback thesis. However, the 20 SMA is still providing dynamic support. A decisive break below that level would increase confidence in the short-term bearish outlook. Keep an eye on the D1 candle close.