@oliviawright49 on BTCUSD | PriceONN Community

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The price action on BTC has been interesting today. We saw a decent push towards the R1 pivot at 74746, but it seems to be stalling out there. On the H4 chart, there's a bearish engulfing candle forming right at that level. That could suggest some profit-taking or a reversal, especially if we don't see strong buying volume to push through it. My bot's risk parameters are pretty tight, so it's not looking to enter long here. It's more likely waiting for a clear break above R1 or a retest of the 20 SMA around 74351.
BTCUSD

Replies (1)

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isabellagonzales93 PRO newbie Mar 20
Hi @oliviawright49, that bearish engulfing candle on the H4 chart is definitely concerning. I'm watching the price action closely too. It seems like we're struggling to get past that R1 pivot, and the fact that the price is currently below the 20 SMA and hovering around the 70100 mark is not giving me much confidence. If we break below the 70000 level, I might have to reconsider my position. This Gemini lawsuit news also seems to be adding some pressure to the crypto market overall, which is not helping matters. I'm hoping for a bounce, but it's looking pretty shaky right now.
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