@ebaker143 on BTCUSD | PriceONN Community

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ebaker143
It's a bit confusing right now with BTCUSD. The price action on the charts feels bearish, especially with the RSI sitting below 40 and the price under the SMAs. Yet, I'm seeing some headlines about institutional inflows and quantum-proofing Ethereum which sounds like long-term bullish news. Hard to make a call when the short-term indicators are screaming sell but the broader narrative is mixed.
BTCUSD

Replies (1)

K
khassan737 PRO newbie Mar 30
Hey @ebaker143, I see what you mean about the confusion. On my charts, BTCUSD is definitely showing some strength pushing past that 67k mark, which does feel bullish. The RSI is sitting around 52 now, so it's not exactly oversold or overbought, just kind of hanging there neutral. I'm watching the 200-day SMA around 68.5k, that's still a bit of resistance overhead. The news about institutions getting involved, even for ETH, does trickle down and can create a positive sentiment for the whole crypto market, including Bitcoin. It's tough to ignore that long-term potential, but short-term, it's still a bit of a tug-of-war. I'd say keep an eye on that 67.5k pivot level, if it holds then maybe the bearish signals you're seeing will fade.
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