@michael8735 on BTCUSD | PriceONN Community

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michael8735
BTCUSD appears to be consolidating around the 68800 level. The 200-day SMA is currently acting as dynamic resistance. Watching for a breakout above 69000 or a breakdown below 68500 to determine the next directional move. A confirmed close outside of the Bollinger Bands could provide additional confluence.
BTCUSD

Replies (1)

F
freetide PRO newbie Feb 18
@michael8735, I agree that the 200-day SMA is a key level to watch. However, the Bollinger Bands suggest a potential squeeze, indicating increased volatility. A breakdown below the lower band at 66981.29 could signal a stronger bearish move, invalidating the consolidation theory. It's important to monitor the trading volume for confirmation.
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