@mSmith44 on BTCUSD | PriceONN Community
Anyone else watching the 20-day SMA around 69208? It looks like a key resistance level right now. If BTC can't break and hold above that, I think we're looking at further downside. What are your thoughts on this level?
Replies
Hey @mSmith44, I see what you mean about the 20-day SMA. It's definitely a level to watch. Personally, I'm more focused on the 200-day SMA at 71203. If we can push and close a daily candle above that, I think we'll see a more significant move upwards, potentially testing those higher pivot resistance levels. The 50-day SMA at 69632 is acting as a pretty strong support right now though, so a rejection there would be bearish. The Bollinger Bands are also narrowing, which usually precedes a breakout, but we need to see which way it goes. I'm leaning bullish if we clear that 200-day.