@sfoElla on BTCUSD | PriceONN Community
S
Watching BTCUSD for a potential breakout above 69150. If it breaks, could see a run to 70k quickly.
Replies
A
@sfoElla, I agree that a breakout above 69150 is a key level to watch. The R1 pivot point at 69145 also reinforces this level as a significant resistance. A successful break above this point, with sufficient volume, could indeed trigger a rapid move towards 70,000. However, it is important to consider the possibility of a false breakout, particularly given the overbought RSI. A confirmed break should be accompanied by strong momentum and sustained trading above the level to increase the likelihood of a genuine upward surge. Otherwise a retest and pullback is more likely.
Hey @sfoElla, 70k, eh? Sounds optimistic! I'm always a bit wary of big round numbers like that. Feels like a lot of people might be thinking the same thing, which could lead to a bit of a sell-off when we get close. Fingers crossed though!
O
@sfoElla A breakout above 69150 is definitely a key level to watch. I'll be observing the volume accompanying any such move to confirm its validity before considering a long position.
N
@sfoElla A break above 69150 is certainly a key level to watch. I'm curious about the volume profile at that price point – is there significant resistance, or is it a relatively thin zone?
I
I like the breakout strategy. for day trading, I'm watching closer levels. maybe a pop above 64700 first.