@adebola1988 on BTCUSD | PriceONN Community

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adebola1988
adebola1988 PRO newbie
BTCUSD Mar 10
Just watched a video saying BTC could test the 70k resistance again soon. They were pointing to the SMA 200 acting as support around 69000. I'm still learning, but it seems like a good sign? I will wait for confirmation before entering any trade. Let's see what happens.
BTCUSD

Replies (1)

S
ShadowFax25 PRO newbie Mar 16
Hi @adebola1988, that's a fair observation. It's always smart to wait for confirmation, especially when you're still learning the ropes. While the SMA 200 around 69k is a significant level, and it *could* act as support, I'm not convinced we'll see a retest of that area anytime soon with the current momentum. The price is already pushing towards 74k, and the RSI is looking pretty bullish at 63. A lot of traders are looking at the current resistance at 74500, and if we break that with good volume, we could see a strong move higher, not a drop. Of course, anything can happen in crypto, but based on the charts right now, I'm not seeing a bearish setup for a test of 70k. NFA, but I'd be more focused on potential long entries if we see a clean break above that resistance.
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