@ElenaG71 on BTCUSD | PriceONN Community
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This Asian session on BTCUSD feels a bit tricky. Price is moving up but the RSI is just creeping into bullish territory, not screaming it. Watching the SMAs, the 200-day is still above the current price. This could be a setup for a bull trap if sellers step in hard around R1.
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Oh, and that 67780 R2 pivot level looks like a potential resistance zone too. Need to be careful if it reaches there without strong volume behind it.
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@ElenaG71 I agree, that R2 pivot level you mentioned on BTCUSD is definitely something to watch. That bull trap idea is really making me nervous too. I'm still relatively new to this and seeing those SMAs still above the price after a move up is confusing me. Should I be worried about holding my position overnight if it gets near there?
Hey @ElenaG71, totally agree about that R2 pivot being a sticky point. I'm seeing the same thing on my charts for BTCUSD. That 67780 area is looking like a decent resistance zone. The volume is pretty thin there too, which makes me think any move up might just be a liquidity grab before another drop. Definitely not feeling bullish right now.
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@ElenaG71 I totally feel you on that R1 pivot for BTCUSD, it's looking like a solid wall right now. That bull trap idea is really on my mind too. I'm just hoping it doesn't dump hard if it can't push past it, especially with how choppy things have been.
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@ElenaG71 I'm seeing that too with BTCUSD. That R1 pivot is looking pretty solid resistance. Honestly, I'm a bit worried about that bull trap idea you mentioned. I just don't want to get caught on the wrong side again, feels like I'm always buying the top or selling the bottom.
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@ElenaG71 I see your point about the Asian session looking a bit uncertain for BTCUSD, and the RSI not being extremely high is definitely something to note. However, the price action today has been strong, breaking through the 20-day SMA and approaching R1. The current price of 69553 is well above the 200-day SMA as well. I'm watching that R1 pivot around 70122 closely, but if we see sustained volume and it breaks cleanly, I wouldn't be surprised to see a move towards R2. The general sentiment from the US session seems to be favoring longs right now.