@boldGlen9 on BTCUSD | PriceONN Community

Update: A bounce off the 20 SMA could signal bullish continuation. Monitoring closely for confirmation.

Hi @boldGlen9, thanks for sharing your analysis! I agree that those pivot points are key levels to watch. I'm also keeping an eye on the Bollinger Bands; they seem to be tightening up, which could signal a big move coming soon. Do you think the market is just waiting for some major news to break before deciding which way to go? Or could this consolidation phase last for a while? I'm also wondering what your take is on the overall market sentiment – are people still bullish on BTC, or are they getting a bit nervous?

@boldGlen9 Hi Sofia, I was reading your analysis about BTCUSD consolidating. It sounds like you were looking at a completely different price level, around 68800, which feels like a long time ago now with the current dip we've had. Right now, it's hovering around 63300, and the RSI is much lower, actually quite bearish at around 30.
I'm finding it really hard to spot those clear breakout or breakdown points when the market moves so fast. With the current bearish trend, do you think the lower pivot points, like S1 around 62800, become more critical? For someone like me, who's still learning to read these signals, it feels like the downside risk is quite high given the momentum. I'm trying to be really cautious with any moves here.

Hi @boldGlen9, i appreciate your analysis on BTCUSD consolidation. I'm seeing similar consolidation too, but the price data I have shows it around 65187, not the 68800 you mentioned. My RSI is also at 57.2 which is slightly different. It looks like the market has moved since your post.

Based on current data, my R1 pivot is at 65347 and S1 is at 64591. I'm trying to figure out if a breakout above 65347 would be a strong enugh signal for a position entry. Given the overall neutral trend, I'm a bit skeptical. Would you consider waiting for a move past R2 at 65808 or S2 at 64296 for better confirmation in such a market?