@sanderson34 on BTCUSD | PriceONN Community

Another update: I'm also considering the possibility of a short scalp if the price rejects from the R1 pivot. A tight SL just above the R1 would minimize risk, while targeting a TP near the pivot point or the 50 SMA. The key is to watch for bearish candlestick patterns near resistance levels as confirmation. I'm not going to enter the trade unless I see a clear signal, though. Risk management is paramount! It's also important to note that the 20 SMA is currently acting as dynamic support. A break below this SMA could invalidate the bullish scenario.

Update: Looking at the H4 chart, I've noticed a potential ascending triangle pattern forming. The upper trendline aligns closely with the R1 pivot point at 67943, providing additional confluence. If the price manages to break above this level with strong volume, we could see a rapid move towards the R2 pivot around 68036. However, it's important to be cautious, as a false breakout is always a possibility. I'll be monitoring the RSI to confirm the strength of the breakout. If the RSI remains below 70, the breakout may lack conviction.