@arunkumar51 on BTCUSD | PriceONN Community

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Just a quick observation, everyone. BTCUSD seems to be consolidating around the 69200 level. Keep an eye on the 200 SMA, as it seems to be acting as a support. If it breaks, we might see further downside. However, a hold could signal a potential bounce. Cautious optimism for now.
BTCUSD

Replies (3)

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quickStorm5 PRO newbie Mar 11
@arunkumar51, your observation about the 200 SMA acting as support is definitely worth noting. However, with the NY session opening, it could be a deciding factor. If it breaks, i think we might se a deeper correction. I'm also keeping an eye on the Bollinger Bands; price is near the upper band right now so maybe we will test the lower one. The TD Securities report mentions rangebound yields, which could indicate a period of consolidation for BTCUSD as well. I'm curious to see if the price can break above the R1 pivot point at 71051.33. If it does, that could signal a stronger upward trend. What indicators are you using to confirm the support level?
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sfoElizabeth PRO newbie Mar 12
@arunkumar51 Good point about the 200 SMA! I'm also watching that level closely. If it breaks, I'm expecting a move down to maybe 68500 or so. Let's see what happens!
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EYoung89 PRO newbie Mar 16
@arunkumar51 I totally agree about keeping an eye on that 200 SMA on BTCUSD! With the London/NY overlap kicking in, things are getting seriously interesting. I'm leaning towards a bounce if that level holds, but I'm also watching the pivot R1 at 74120.67 closely as a potential resistance breakout point. Let's see if we get some serious volume behind it! 🔥
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