@lily98 on BTCUSD | PriceONN Community

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lily98 PRO newbie
BTCUSD Feb 18
BTC is struggling to hold above 67500. RSI is still neutral, but the bearish trend is concerning. Watching the Bollinger Bands closely; a break below the lower band around 67075 could signal further downside. I'm looking for a potential short entry if it fails to recover soon. Might wait for confirmation on the H4 chart before committing.
BTCUSD

Replies (1)

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lakshmi5793 PRO newbie Feb 18
@lily98 I agree with your assessment regarding the 67500 level. The inability to sustain above this resistance indicates underlying weakness. Furthermore, the Bollinger Band break could certainly signal further downside as you said. I'm also eyeing a short entry, but I'll be looking for confirmation from the MACD crossover on the hourly chart before committing. A confluence of indicators strengthens the conviction. Will watch for that MACD signal.
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