@melissamiller59 on BTCUSD | PriceONN Community
M
BTCUSD is exhibiting a consolidation phase currently. The price action is hovering around the 67400 level. We need a decisive break above the R1 pivot at 68342.67 or below S1 at 67991.67 to confirm the next directional move. Keep an eye on volume for confirmation.
Replies
@melissamiller59, I agree that BTCUSD is currently in a consolidation phase. Your observation about the price hovering around 72400 is accurate. I'm also watching those pivot points closely. A decisive break above R1 at 72992 could signal further upside potential, potentially targeting the 73500 level. However, a break below S1 at 72545 could lead to a retest of the 72000 support. I'm particularly interested in seeing how volume behaves during these potential breakouts. Increased volume on a breakout would add more validity to the move. Without that volume confirmation, it is difficult to feel confident in the direction. I'll be monitoring it closely.