@BabatundeOgunleye on BTCUSD | PriceONN Community

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B
It appears BTCUSD is currently consolidating around the 64000 level. The price seems to be struggling to find a clear direction after its recent movements. I am observing that it is trading between the 20 SMA and the 50 SMA. This neutral stance makes me wonder about potential catalysts that could initiate a new trend. One must be very cautious in such conditions.
BTCUSD

Replies (1)

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BabatundeOgunleye PRO newbie Feb 24
Further to my earlier point, the RSI is also indicating a neutral sentiment at 51.3. This absence of strong momentum is quite challenging for a daytrader. I am considering if a decisive break above the R1 pivot at approximatey 64200 or below the S1 pivot around 63500 would provide a clearer signal. What indicators do more experienced traders rely on in such ambiguous situations?
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