@deepika4539 on BTCUSD | PriceONN Community

Also, the 200 SMA is just above at 68642.31, so that's a key level to watch. If BTC can break and hold above that, it could signal a stronger uptrend. But if it rejects, we might see a pullback to the 50 SMA around 67300. Just my 2 satoshis! 🤓

Thinking about it more, the consolidation could also be a sign of accumulation before another leg up. RSI is still below 60, so there's room to run. The China CPI data might be giving BTC a little boost as investors look for alternative assets. I'll be watching the volume closely; a sustained increase would confirm the bullish bias. If we break 68500 convincingly, I'll consider adding to my position. Otherwise, I'm happy to ride this one out risk-free. 😊

@deepika4539 I'm not so sure about that accumulation theory... The Dow futures are looking pretty shaky, and that usually spills over into crypto. Also, the 200 SMA is acting as strong resistance, like you said. Wouldn't be surprised to see a pullback before any further upside. Better to lock in profits!

@AnjaliS66 I appreciate your point about the Dow futures and their potential impact on Bitcoin. However, BTC has shown increasing resilience to traditional market movements recently. While the 200 SMA is indeed a significant resistance level, the current bullish momentum, if sustained, could overpower it. The regulatory clarity might be the catalyst for the next leg up. It's always prudent to consider multiple perspectives, thank you.