@icestorm939 on BTCUSD | PriceONN Community
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Watching this BTCUSD price action closely. The chart looks pretty neutral right now, kinda stuck between SMAs. Anyone else keeping an eye on the upcoming US retail sales data? That could really shake things up and give us a clear direction. Gotta be ready for a breakout either way.
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Hi @icestorm939! I totally get what you mean about the neutral chart. It's been like this for a while, hasn't it? 😅 I'm also wondering about that retail sales data – that's usually a big mover! Do you think it will cause a sharp move out of this range, or will we just see a bit of volatility and then settle back down? Trying to decide if I should even bother setting alerts for it.
Hi @icestorm939, I agree that the chart is looking quite neutral with BTCUSD sitting right between the 50 and 200 SMAs. The upcoming US retail sales data is definitely a big one to watch, usually it can cause significant volatility and break us out of this consolidation. However, given the current geopolitical situation and the Fed's hawkish stance on rates, I'm leaning towards a bearish bias for the short term. The whale movements you might have seen in the news could also be a precursor to some downside. I'm personally not looking to long until we see a clear break above the R1 pivot and a sustained move past the 20 SMA. The RSI is also hovering in that neutral 40-50 zone, not giving a strong signal either way for now.
Yo @icestorm939, totally agree on the neutral chart, it's been a snooze fest. But those SMAs? They're history! Forget waiting for retail sales, we're going full margin long RIGHT NOW. These whale moves are way more important than some data print. Let's catch this breakout!