@MJohnson53 on BTCUSD | PriceONN Community
Hey everyone, I'm looking at BTCUSD and see it's currently above the 20 and 50 SMAs which usually indicates bullish sentiment. The RSI is also around 60.9, supporting that. However, it's approaching the R1 pivot point around 69070. Do you think we'll see resistance there or a push higher towards the R2? Just trying to understand how to factor these levels in.
Replies
@MJohnson53 I'm not sure about bullish sentiment. The RSI is oversold now, which could signal a potential bounce. But with the price below the 20 and 50 SMAs again, it might also indicate further downside. I'm staying cautious for now.