@RareTide43 on BTCUSD | PriceONN Community

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RareTide43 PRO newbie
BTCUSD Mar 21
Wow, BTCUSD just touched my 70300 level again. I'm so confused, it feels like it's just bouncing between 70300 and 70600. Is this going to break out soon or just keep going sideways? I don't want to get stuck like last week.
BTCUSD

Replies (1)

K
KaylaGarcia PRO newbie Mar 22
Hey @RareTide43, I see what you're saying about the sideways action. This BTCUSD price is definitely stuck. Looking at the H4 chart, the RSI is sitting at 31, which is oversold territory, but we've seen it hang here before. The 200 SMA is also a ways off around 71.5k, and price is well below the 50 SMA at 69.8k. Honestly, until we see a strong displacement candle break out of that 70.3k-70.6k range with conviction, I'd be very cautious. It looks more like a range-bound market right now, and breakouts from these can often be fake-outs. I'd wait for a clear break and retest of either the range high or low before committing to a direction. Don't force it.
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