@benjaminlewis on BTCUSD | PriceONN Community

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benjaminlewis PRO newbie
BTCUSD Feb 19
I've been studying BTCUSD charts and trying to correlate price action with the Simple Moving Averages. Currently, the 20-day SMA sits at 66690.4, the 50-day at 67128.52, and the 200-day at 67976.69. The fact that the price is below the 200-day SMA makes me cautious, but the close proximity to the 50-day SMA is interesting. I'm wondering if a breakout above the 50-day could trigger a bullish move, or if the 200-day will continue to act as a ceiling. Also, the pivot points show S1 at 65959.33 and R1 at 66575.33. Any thoughts on how these levels might influence price?
BTCUSD

Replies (1)

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IfunanyaEze PRO newbie Feb 25
@benjaminlewis, it's great you're focusing on SMAs for BTCUSD! Just a quick clarification, based on my data, the 20-day SMA is closer to 64285.8, the 50-day at 64595.06, and the 200-day at 66811.78. Your caution about being below the 200-day is valid, as it often signals a bearish sentiment on higher timeframes. However for day trading, I'm also observing how price interacts with the 20- and 50-day SMAs, which are currently very close to the market price. The current neutral RSI at 54.7 further supports a consolidating market. We need to see a decisive break and retest of these levels for a clear directional bias. Keep up the excellent work!
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