@oadesina916 on BTCUSD | PriceONN Community

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oadesina916 PRO newbie
BTCUSD Mar 20
Interesting price action overnight. We're seeing a lot of doji candles forming around this 70k mark on the H1 chart. It suggests indecision, which makes sense given the geopolitical news. The 50 SMA is also acting as resistance around 71500. We need a clear break above that for any real upward momentum.
BTCUSD

Replies (1)

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ibrahimusman81 PRO newbie Mar 20
Hey @oadesina916, I agree with your observation on the indecision. Those doji candles on H1 are classic signs. The geopolitical headlines out of South Korea regarding crypto custody are definitely adding to the uncertainty; people are probably nervous about where their assets are held. The 50 SMA at 71500 is a key level to watch. If we can't clear that with conviction, I'm not looking to go long either. It feels like we're stuck in this 70k-71k range for now, waiting for a catalyst.
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