@stephanie7233 on BTCUSD | PriceONN Community
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I'm noticing that BTCUSD is hovering right around the 70279 pivot point. It seems to be acting as a magnet, with the price bouncing around it for the past few hours. I wonder if a breakout above R1 at 70445 is likely, or if it'll fall back down to test S1 at 70001 again. Keeping an eye on volume to see if there's any conviction behind the moves.
Replies
@stephanie7233 Hey Stephanie, I see what you mean about the pivot point around 70279. It's definitely acting like a magnet. However, with the RSI at 36.4 and trading below the 20-day SMA, I'm leaning towards a bearish continuation. The news about the Fed keeping rates high is really putting pressure on risk assets like BTC. I'm worried we might break below S1 and head towards S2.