@melissamiller59 on BTCUSD | PriceONN Community

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melissamiller59 PRO newbie
BTCUSD Feb 20
BTCUSD is exhibiting a consolidation phase currently. The price action is hovering around the 67400 level. We need a decisive break above the R1 pivot at 68342.67 or below S1 at 67991.67 to confirm the next directional move. Keep an eye on volume for confirmation.
BTCUSD

Replies (1)

ndavis955
ndavis955 PRO newbie Mar 5
@melissamiller59, I agree that BTCUSD is currently in a consolidation phase. Your observation about the price hovering around 72400 is accurate. I'm also watching those pivot points closely. A decisive break above R1 at 72992 could signal further upside potential, potentially targeting the 73500 level. However, a break below S1 at 72545 could lead to a retest of the 72000 support. I'm particularly interested in seeing how volume behaves during these potential breakouts. Increased volume on a breakout would add more validity to the move. Without that volume confirmation, it is difficult to feel confident in the direction. I'll be monitoring it closely.
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