@aogunleye706 on BTCUSD | PriceONN Community
A
Okay, enough with the sideways movement on BTCUSD. My analysis for a potential long setup is forming as this consolidation can't last forever. We've been consolidating between the 20 and 50 SMAs, which is often a coiled spring before a big move. I'm looking for a clear break above the 50 SMA, which is currently around 64900-65000. If we can get a strong candle close above that, ideally pushing past R1 at 64660, I'd consider entering a long position.
My initial target would be the 200 SMA around 67k, with a stop loss just below the 20 SMA, maybe around 63500. The RSI is neutral now, but a push higher could get it trending up nicely. This market needs a decisive move and I'm ready to ride it up.
My initial target would be the 200 SMA around 67k, with a stop loss just below the 20 SMA, maybe around 63500. The RSI is neutral now, but a push higher could get it trending up nicely. This market needs a decisive move and I'm ready to ride it up.