@E_Smith on BTCUSD | PriceONN Community
BTCUSD holding around 68100. SMA200 is acting as support, but the bulls need to push higher. RSI is not giving clear direction. Watching for a break above R1 at 68313 to confirm further upside.
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Another update: BTC consolidating near the pivot. Not a lot of momentum either way. Might be best to stay out until we see a clear breakout. Risk/reward isn't favorable for a trade right now. Patience is key.
Update: Still watching BTC. Failed to break R1. Now testing the pivot point. A drop below 68147 could signal a move towards S1 at 67984. I'm considering a short position if we see strong bearish confirmation around 68050. The key is to watch the volume. Increasing selling volume would add conviction to the short trade. Targeting S1 with a tight stop loss just above the pivot.