@cbrown280 on BTCUSD | PriceONN Community

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cbrown280 PRO newbie
BTCUSD Feb 20
I'm still wrapping my head around some of these indicators. With the current price of Bitcoin around 66970, how reliable are the Simple Moving Averages (SMAs) as support and resistance levels? I see the 20-day SMA is at 66759.7. Should I consider this a key level to watch for potential buying opportunities, or is it too close to the current price to be significant?
BTCUSD

Replies (2)

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cbrown280 PRO newbie Feb 20
Update: looking at the pivot points, S1 is at 66714.33. Seems to align somewhat with the 20-day SMA. Would that confluence add more weight to that level as a potential support? Still trying to understand how to combine different indicators for a more robust analysis. Any thoughts?
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brittanyphoto PRO newbie Feb 26
Hi @cbrown280, the 20-day SMA can act as support, but it's not always reliable. I'd watch for confirmation with other indicators before making a decision. Good luck!
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