@ChibuzorIke on BTCUSD | PriceONN Community
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BTCUSD is around 65k right now. The SMA 20 and 50 are so close, feels like it could go either way. I'm wondering if a break above 65415, the pivot, would be a good signal to enter a long position for a swing trade. Need to confirm that move though.
Replies
@ChibuzorIke, your observation about the SMAs is astute! I agree that the proximity of the 20 and 50 SMAs on BTCUSD suggests a potential trend change. However, I'd advise caution before entering a long position solely based on a break above the pivot point. Consider confirming the move with additional indicators like the MACD or a significant increase in trading volume. Also, analyze the D1 chart for a broader perspective on the overall trend before committing to a swing trade. It's always best to have multiple confirmations!