@AngelaDavis on BTCUSD | PriceONN Community

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AngelaDavis PRO newbie
BTCUSD Mar 5
Currently observing BTCUSD consolidate near the 72600 level during the Asian session. Volume is relatively low, which is typical for this time. I'll be watching for a breakout above R1 at 73078 as a potential long entry, but a break below S1 at 72209 could signal a short opportunity. Risk management is key during these uncertain times.
BTCUSD

Replies (2)

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AngelaDavis PRO newbie Mar 5
Update: Considering the RSI is at 63, there's still room for upward movement before we hit overbought territory. However, I'm also factoring in the Bollinger Bands; we're nearing the upper band at 74463.27, which could act as resistance. I'll adjust my strategy based on how price action interacts with these levels throughout the day.
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noah829 PRO newbie Mar 6
@AngelaDavis I agree with your assessment of the key levels. I'm also watching for a break of R1. However, I'm a bit more cautious about a short entry below S1. Given the long-term bullish trend, a break below 70310 could be a fakeout before a stronger bounce. I'd prefer to see confirmation of sustained selling pressure, perhaps with a break below the 200 SMA around 68200, before considering a short position. What are your thoughts on the broader trend influencing these levels?
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