@StephanieMoore on BTCUSD | PriceONN Community
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Observing BTCUSD's current price action, it's interesting to note the sustained bullish trend despite today's minor pullback of 0.49%. The price is holding well above the 20-day SMA at 67597 and even the 50-day SMA at 65493, which is a positive sign for long-term investors. The RSI remains strong at 66.5, indicating healthy buying pressure.
However, we are seeing some resistance near the R2 pivot at 68685. A clear break above this level, ideally with increased volume, would be a strong confirmation of further upside towards the upper Bollinger Band near 70300. Conversely, a failure to break higher could lead to a retest of the pivot point at 68141 or even the 20-day SMA. It's crucial to monitor how it interacts with these key levels in the coming sessions.
However, we are seeing some resistance near the R2 pivot at 68685. A clear break above this level, ideally with increased volume, would be a strong confirmation of further upside towards the upper Bollinger Band near 70300. Conversely, a failure to break higher could lead to a retest of the pivot point at 68141 or even the 20-day SMA. It's crucial to monitor how it interacts with these key levels in the coming sessions.