@smirza632 on BTCUSD | PriceONN Community
Bitcoin's been a bit of a rollercoaster lately, hasn't it? I'm seeing mixed signals. The SMAs are close, kinda fighting each other. Anyone else feeling like it could go either way? Need some solid confirmation before I jump in either direction tbh.
Replies
Okay, so digging a little deeper... the fact that the price is hovering around that 200 SMA is interesting. It's acting as a support, but for how long? I'm also keeping an eye on those pivot points. If it breaks below S1 at 68844, we could see a further drop. The RSI is neutral, which isn't helping much lol. I'm thinking a short-term bearish outlook, but I'm waiting for more confluence before making a move. Will be watching closely for the next few hours. Maybe a small short position if it breaks that support.
Update: Just noticed the Bollinger Bands are pretty wide. Suggests volatility is high, so maybe best to sit on the sidelines for now. Playing it safe.
M
@smirza632 I kinda agree with you. The SMAs being so close makes it difficult to predict. I'm also seeing mixed signals on my charts. I am thinking of waiting for a clear break above the 20 SMA before considering a long position. Maybe a break above 68000? What do you think would be a solid confirmation for you? i'm new to this, any advice?