BTCUSD is looking bearish to me right now. RSI is under 50 and price is below the 20 SMA. I'm thinking we could see a dip towards the S1 pivot around 66300 soon. I'm keeping an eye on it and might open a small short position if it breaks below 65900. Let's see what happens!
Update: Just checked the chart again, and BTCUSD is still struggling to break above the 20 SMA. The Bollinger Bands are narrowing, which could indicate a period of consolidation before another move. I'm still leaning bearish, but I'm also aware that the market can change quickly. I think the key level to watch is the S2 pivot around 66150. If it breaks below that level, we could see a much bigger drop. I'm going to wait for more confirmation before entering a short position though. Patience is key! What do u guys think?
