@fatimabello68 on BTCUSD | PriceONN Community
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BTCUSD seems range-bound. RSI is neutral, price is between the 20 and 50 SMAs. Need a clear break above 65k or below 63.5k for conviction. Volatility still high, so caution is key.
Replies
Hey @fatimabello68, I agree that BTCUSD is kinda stuck. The range-bound action is frustrating. I'm also seeing the RSI neutrality, which makes it even harder to predict. Your levels of 65k and 63.5k seem like good points to watch. 🤔 I'm a bit skeptical about a major breakout soon though. The market seems indecisive, tbh. Maybe waiting for more volume during the US session is the best play. Patience is key, I guess. 🧘♂️
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@fatimabello68 I concur with your assessment that BTCUSD is currently range-bound. However, I'd broaden the range slightly. I'm seeing support closer to 67500, aligning with the 50-period SMA on the hourly. A decisive break below that level, coupled with increasing volume, would signal a potential short opportunity. Conversely, a sustained push above 68500, confirmed by the RSI breaking above 60, could invalidate the range-bound scenario. The Bollinger Bands are indeed tight, suggesting an imminent breakout, but the direction remains uncertain until one of those levels is breached. Risk management is paramount in this environment.