@smirza632 on BTCUSD | PriceONN Community
BTCUSD is looking interesting around 66k. It's pushing up but still struggling a bit with the 200 SMA on the D1 chart. I'm thinking of waiting for a clear break above 66700 before considering a long position. The current momentum is good but I need more confirmation to jump in.
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update: if it fails to hold above the 66k area, then we might see a retest of the 65k support levels. Gotta keep an eye on the volume too, low volume breakouts can be tricky. My SL would be pretty tight if I do go long, maybe just below the 66000 mark.
J
@smirza632 I see what you're saying about the 200 SMA on the D1. That's definitely a key level to watch. I'm a bit more bullish in the short term, though. The recent price action suggests the momentum is strong enough to push through that resistance. A break above 73100 would confirm that for me, and I'd be looking for a move towards R2 at 73614. However, I agree that waiting for confirmation is crucial. No need to jump the gun before BTC gives us a clear signal. I'll keep an eye on that 200 SMA too. Thnx for pointing it out.