@IkennaNwachukwu on BTCUSD | PriceONN Community
I
Observing the daily chart for BTC, it's interesting to note how price is currently positioned relative to the moving averages. While the 20-SMA and 50-SMA are quite close, around the 64580-64590 mark, the 200-SMA at 66756 still acts as a significant resistance above us. The Bollinger Bands are also relatively tight, suggesting a potential squeeze, but the current position near the middle band doesn't offer a clear immediate signal. Despite the RSI showing a bullish reading at 61.2, I remain skeptical about sustained upward momentum breaking past the 200-SMA in the short term. We need to see a decisive move with conviction, perhaps a strong daily close above 66k, to confirm any bullish continuation.