@fatimahussain90 on BTCUSD | PriceONN Community
Watching BTCUSD here, feels like we're consolidating just below the R1 pivot at 74416. RSI is hovering around 50, no clear divergence yet. The 20 SMA is also sitting right above price, acting as resistance. If we can't break above that and hold, I'm leaning towards a retest of the S1 pivot near 74050. The news about potential crypto payments for oil passage is interesting, but it's not translating to immediate bullish pressure on this quiet Asian session. Waiting for clearer signals.
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Also, the fact that the 200 SMA is still below the price at 71753 suggests the longer-term trend is still intact, which is a good sign. But for now, this immediate chop around the daily pivot is making me cautious. Need to see volume pick up to confirm any breakout direction.