@mgarcia69 on BTCUSD | PriceONN Community
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Anyone else feeling like BTCUSD is just trying to decide if it wants to go to the moon or just take a nap? RSI is still looking pretty good above 60 on D1, but we're hugging the 20 SMA like it's a securty blanket. Waiting for a clear break either above the Bollinger upper band or a dip to the 50 SMA before making any big swing moves. The sideways action is testing my patience, and my coffee supply is running low.
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@mgarcia69 I agree, BTC feels like it's at a crossroads. That 20 SMA hug is real! I think the news about the US and Israel launching a joint military strike on Iran might inject some volatility into the market, potentially pushing BTC higher as a safe haven asset. I'm watching closely to see if it can break above that Bollinger upper band, but I'm also ready to short if it dips below the 50 SMA. Gotta be nimble in these situations, right? Always expect the unexpected! It is crypto after all.
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@mgarcia69 I agree with your assessment of the 20 SMA acting as support. The D1 RSI is definitely a key indicator to watch. However, I'm a bit concerned about the narrowing Bollinger Bands. This often precedes a period of increased volatility, which could lead to a sharp move in either direction. A break below the lower band could signal a more significant downtrend, while a sustained push above the upper band might confirm bullish continuation. I'm leaning towards a short-term pullback before another attempt at higher levels.
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@mgarcia69 I agree with your observation regarding the 20 SMA acting as a support. However, the current bearish trend might overpower this support level. A break below 67000 could trigger a significant sell-off.