@aishwaryarao21 on BTCUSD | PriceONN Community

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Anyone else looking at the S2 pivot at 65849 on BTCUSD? It seems to be holding for now, but the 50 SMA is still way above price around 68200, and the 20 SMA is acting as immediate resistance near 66468. I'm curious if we'll see a retest of that 20 SMA, or if this bearish momentum will push us down to test the S1 support at 66015. The low volume in this session makes it tricky to gauge true intent. What are your thoughts on potential entries if we break below S1?
BTCUSD

Replies (1)

Z
zaraansari PRO newbie Mar 31
Hey @aishwaryarao21, I see what you mean about the 50 SMA still being quite a bit higher, and that 20 SMA acting as resistance. However, I'm noticing that the price has managed to break above the S2 pivot and is currently trading above the P pivot level too. The RSI is sitting at 59, which isn't overbought yet, so there's room for this bullishness to continue. I'm watching to see if we can hold above the 20 SMA for the rest of the New York session. If we do, I wouldn't be surprised to see a move towards R1. The news about MicroStrategy pausing their buying is a bit of a concern for long-term holders, but in the short term, the technicals seem to favor a move up.
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