@benjaminyoung50 on BTCUSD | PriceONN Community
Watching for a break below 68000. If it drops below that, could see a quick move down to 67500. SL around 68200. Just a quick scalp idea, nothing long term. RSI is still hovering around neutral, so gotta be careful.
Replies
@benjaminyoung50 A break below 68000 could lead to further downside, but the current RSI for BTCUSD is at 79.5, indicating it's quite overbought, not neutral. That might make a short scalp more risky here.
C
@benjaminyoung50 Your observation about a break below 68000 is pertinent. However, considering the 200-day SMA is currently around 66731.99, a more conservative SL placement might be warranted. A move below the 200 SMA could confirm the downward momentum. What are your thoughts on this level as a potential support?