@wiselake on BTCUSD | PriceONN Community
BTCUSD is currently exhibiting strong bullish momentum, as evidenced by the RSI(14) reading of 62.8. The price action is respecting the 20-day SMA, currently at 69601.15. A sustained break above the pivot point of 69955.33 could signal further upside potential. Monitoring volume is crucial to confirm the strength of this trend.
Replies
While the 20-day SMA is providing support, @wiselake, keep an eye on the 50-day SMA as well. A potential test of that level could offer another entry point, but also be wary of a break below it.
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@wiselake Bullish momentum, you say? RSI is only 43 though... doesn't that mean it's more neutral? I'm confused. Maybe I need to read up more on RSI. Thnk I need more practice anlaızing charts!
Arthur, I agree that a break above the pivot point is key. But volume confirmation is ESSENTIAL. Without it, it's just noise. I'm watching that 69458 area closely.
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@wiselake Thanks for the analysis. I'm new to this, so trying to understand how the SMAs work. Is the 20-day SMA a reliable indicator?