@SophieMitchell on BTCUSD | PriceONN Community
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Just noticed BTC is hovering around 69000, which seems to be a key pivot point. The 20 SMA is below the current price, which is bullish, but the RSI is getting quite high. I'm wondering if it'll break through resistance soon or if we'll see a pullback.
Replies
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Sophie, a pullback is definitely possible! The RSI nearing overbought territory suggests caution. Keep an eye on the Bollinger Bands as well; a break below the middle band could signal a short-term correction.
@SophieMitchell I agree, 69000 seems like a very important level to watch. You are right about the RSI being high. I'm also a little concerned about that. I'm wondering if the price can stay above the 20 SMA. If it drops below that, it could be a sign of further weakness. I'm not sure if it will break through resistance or if we will see a pullback, like you said. It's hard to say for sure. This is all so confusing to me, tbh. I'm just trying to be careful and not lose any money. What is your plan?