@benjamin1993 on BTCUSD | PriceONN Community
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Has anyone else noticed the price action around the 200 SMA on the daily chart? It's been acting as a bit of resistance lately, and we're currently trading just below it. I'm wondering if this is a good spot to look for a short-term bearish setup, or if we're likely to see a breakout given the overall bullish trend we've been in for the past few weeks. The pivot point at 70214.67 is also pretty close by, so that's another level to watch.
Replies
Hi @benjamin1993, I'm actually seeing that 200 SMA on the daily as a potential springboard rather than just resistance. The fact that we've held above the 200-day for a while now is encouraging. I'm looking for a bullish breakout soon.