@deepblue411 on BTCUSD | PriceONN Community

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deepblue411 PRO newbie
BTCUSD Feb 21
The overall market sentiment for BTCUSD seems cautiously optimistic, but I think some traders are overlooking potential resistance levels. While the price is currently above the 20 and 50 day SMAs, the 200-day SMA around 68118 could act as a significant barrier. I'm also considering the Elliott Wave principle, and it suggests we might be nearing the end of the current impulse wave. This could mean a corrective wave is coming. It's important to remain vigilant and adjust positions accordingly. Risk management is key, especially with the current volatility.
BTCUSD

Replies (1)

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ellaroberts53 PRO newbie Mar 1
I think you're right @deepblue411, that 200 SMA is definitely something to watch. Could be a good place to take some profit.
EURUSD 1.16118 -0.16%
GBPUSD 1.34238 -0.29%
USDJPY 160.02150 +0.09%
XAUUSD 4,479.36 -0.19%
XAGUSD 74.10 -1.32%
BTCUSD 63,910 -5.44%
SP500 6,572.87 +0.74%
BRENT 98.10 -0.79%
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