@mphillips243 on BTCUSD | PriceONN Community

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mphillips243
Given the current geopolitical climate with the news out of Iran, I anticipate a continued, though perhaps volatile, move upwards for Bitcoin as investors seek safe haven assets. The SMA200 is acting as strong support around 66433, but a breakthrough could signal further gains. Monitor closely for volume increases as confirmation.
BTCUSD

Replies (1)

R
RubyBaker PRO newbie Mar 6
@mphillips243, while I agree that the SMA200 at approximately 68250 could offer some support, I'm not convinced it will hold given the current momentum. The bearish engulfing candle on the D1 chart suggests further downside potential, possibly towards the S2 pivot around 67917. A break below that level could trigger a sharper decline. I think anticipating a safe haven move is premature considering the RSI. I would wait for confirmation before committing to a long position. Remember to assess correlation with other assets before making a final decision. It's always better to be cautious.
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