@kdevi84 on BTCUSD | PriceONN Community
BTCUSD is currently exhibiting bearish momentum, having broken below the 20-day SMA. The RSI, although neutral, suggests further downside potential. Monitoring price action around the S1 pivot level (66666) will be crucial; a sustained break below this level could open the door for a test of S2 at 66494. Consider this when planning your trades.
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Update: Observing increased selling pressure near the 66900 level. A short position with a tight stop-loss above the pivot point might be a viable strategy, targeting 66500 as the initial TP.
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Hello @kdevi84, thank you for sharing your analysis on BTCUSD. I'm trying to understand the current situation. My data shows the price at 65218, which is actually above the 20-day SMA of 64189. Could you clarify if you're looking at a different timeframe, or if this changes the bearish outlook? I'm still learning to reconcile these indicators.