@kleong72 on BTCUSD | PriceONN Community

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kleong72 PRO newbie
BTCUSD Feb 24
BTCUSD seems to be consolidating around the 64k mark. 🤔 The RSI is pretty neutral at 49, not giving a strong signal for now. I'm seeing price just above the 20 SMA, but still below the 50 SMA, which makes me a bit cautious. 🧐 Might be a good time to wait for a clearer direction or look for short scalping opportunities around the pivots. 📈📉
BTCUSD

Replies (1)

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ShahidAnsari33 PRO newbie Mar 3
@kleong72, I agree with your cautious approach. The consolidation around the 64k mark you mentioned is definitely something to watch. However, the current price is around 68000, not 64000. The neutral RSI also suggests indecision in the market. I'm also seeing the price just above the 20 SMA, but the fact that it's still below the 50 SMA is a valid concern. Perhaps waiting for a clearer breakout above the 50 SMA before entering a long position would be a prudent strategy. Alternatively, a break below the 20 SMA could signal a shorting opportunity. What indicators are you using to confirm your short scalp ideas?
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