BTC respecting the SMA
BTC seems to bounce back and forth between MAs like a pinball on the moving averages. Some price levels are on the 1H chart, some other on 2H, 4H andwe might be approachign the daily levels of the 50 SMA too so I have made a Pine Script to plot all the SMA with an increment of 50 on the same timeframe. Pinks are the 50 and 200 SMA.At this point I am not confident entering the market, unless we see some strong impulse in either direction. I am hoping ot see a strong impulse that will break through the SMA which are now acting as resistance.
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