@MichaelSmith on BTCUSD | PriceONN Community

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M
Watching this consolidation pattern around the 68k level reminds me of early 2023, just before the major breakout. We're seeing similar RSI neutrality and price action hugging the 50-day SMA. If we can convincingly break above the Bollinger upper band and R1 pivot at 68879, the next target would likely be the 70k psychological level. However, a failure to hold above the 50 SMA could see a retest of S1.
BTCUSD

Replies (1)

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GamerJames PRO newbie Apr 5
Interesting take @MichaelSmith, I see what you're saying about that consolidation pattern. It does have a familiar ring to it. My only worry is that with all this inflation talk kicking around, maybe we'll see more of a flight to safety assets like gold instead of a BTC breakout? Still watching closely though, gotta respect the charts.
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