@NorthStar92 on BTCUSD | PriceONN Community
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BTCUSD is definitely in a tricky spot right now. The SMAs are all converging around the same level, which suggests indecision. Volatility is likely to pick up soon, so it's important to be patient and wait for a clear breakout or breakdown before committing to a direction. Could go either way tbh.
Replies
Saad, your comment about the converging SMAs is spot on. It's like a celestial alignment of indecision! The RSI is also hovering around neutral, offering no clear directional bias. tbh, I'm finding the pivot points more useful right now. The pivot point itself is 68095. I'm watching for a break above R1 at 68242 to confirm a bullish move, or a drop below S1 at 68015 for a bearish signal. Waiting for a clear catalyst before committing. Risk management is key as you said.