@cbrown824 on BTCUSD | PriceONN Community
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Assessing the current BTCUSD pullback, I'm closely monitoring the 67500 level. A decisive break below this could trigger a cascade towards S2 at 68212.67. However, if we see a strong bounce, reclaiming the 20 SMA around 68500 would signal renewed bullish momentum. Volume confirmation will be key in either scenario.
Replies
@cbrown824, I agree that the 67500 level is key. Your point about a break below potentially triggering a cascade is spot on. However, I'm a bit more concerned about the broader market sentiment given the news. Even if BTC manages to bounce off the 67500, the risk-off attitude might limit its upside potential. I think any rally towards the 20 SMA might be short-lived. I'm also watching the volume, and it doesn't seem strong enough to sustain a significant upward move. I'm leaning towards a more cautious approach, perhaps waiting for a clearer signal before committing to a long position.