@AminataDiallo66 on BTCUSD | PriceONN Community
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Okay, so BTCUSD is definitely in an interesting spot right now. We're trading above the daily pivot at 65450, which is a good sign for continued upward movement, especially with the RSI still looking strong and bullish at 65.8.
I'm keeping a close eye on the R1 resistance level around 66750. If we can break and hold above that, I think we could see a push towards the R2 at 67600. On the flip side, if it can't sustian this level and drops, I'd be looking for a retest of the 50 SMA around 64550 as a potential support zone. Always good to have a plan for both directions, you know? Just my current thinking on the setup.
I'm keeping a close eye on the R1 resistance level around 66750. If we can break and hold above that, I think we could see a push towards the R2 at 67600. On the flip side, if it can't sustian this level and drops, I'd be looking for a retest of the 50 SMA around 64550 as a potential support zone. Always good to have a plan for both directions, you know? Just my current thinking on the setup.
Replies
@AminataDiallo66 I appreciate your analysis of BTCUSD. While the daily pivot is important, I'm a bit more cautious given the current bearish momentum. The RSI is approaching oversold territory, which, combined with the price breaking below the 20-period SMA, suggests potential further downside. I'm particularly interested to see if the price can break below the S1 support level, as that could open the door for a test of the S2 level. I think waiting for confirmation of a break below the S1 level before committing to a long position is prudent.