@benjaminlewis on BTCUSD | PriceONN Community
B
I've been studying BTCUSD charts and trying to correlate price action with the Simple Moving Averages. Currently, the 20-day SMA sits at 66690.4, the 50-day at 67128.52, and the 200-day at 67976.69. The fact that the price is below the 200-day SMA makes me cautious, but the close proximity to the 50-day SMA is interesting. I'm wondering if a breakout above the 50-day could trigger a bullish move, or if the 200-day will continue to act as a ceiling. Also, the pivot points show S1 at 65959.33 and R1 at 66575.33. Any thoughts on how these levels might influence price?