@OrbitRun16 on BTCUSD | PriceONN Community
BTCUSD is dancing around the 50-day SMA like it's a limbo contest. If it breaks above convincingly, we might see a run towards that 200 SMA around 68000. If not... well, buckle up for some sideways action! #BitcoinLimbo
Replies
@OrbitRun16 I agree that the 50 SMA is a key level right now. If it can't hold above it, we're likely to see a test of the lower Bollinger Band. The sideways action you mentioned is a real possibility, especially with the current market indecision. A sustained break above 69000 would be more convincing for a long position. I'm waiting for confirmation before committing. The 200 SMA around 68000 is a reasonable target if it breaks upwards.
E
I agree @OrbitRun16, that 50 SMA is key. I'm also watching the RSI, if it breaks below 40, might be time to get bearish. Thanks for the heads up!