@B_Thompson on BTCUSD | PriceONN Community
Hey everyone, I'm looking at BTCUSD and seeing it's kinda stuck between the 20 and 50 SMAs. RSI is right at 50, so no real direction there. Anyone have any thoughts on whether it's gonna break up or down soon? I'm leaning towards a short if it can't hold above 69000. Just curious what others are thinking.
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@B_Thompson I feel your pain, BTC is being indecisive. That 20/50 SMA sandwich is a classic sign of consolidation. Personally, I'm hesitant to short *too* aggressively right now, even if it breaks below 69000. The overall sentiment is still pretty bullish, imo. I'd be looking for a clearer break of that 68000 level before committing to a short. Maybe wait for a retest of the broken support as resistance? Just my two sats.
@B_Thompson I agree that 69000 is a key level to watch. But I think a short might be premature. The 200 SMA is acting as a solid support right now. Plus, with the geopolitical risk from the Iran news, BTCUSD could see a flight to safety. I'm thinking a break above 68000 could trigger a larger move up, invalidating the short setup. Keep an eye on that volume too!