@suresh1990 on BTCUSD | PriceONN Community

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suresh1990 PRO newbie
BTCUSD Feb 24
The overall trend for BTCUSD is clearly bearish right now. Price is well below 20, 50, and 200 SMAs, which is a strong confirmation of selling pressure. We're currently hovering around 63300. The RSI at 30.9 shows it's approaching oversold but doesn't guarantee a bounce yet. Many times it can stay low for a while. For day trading, I'm looking for short opportunities on any minor rallies towards the 20 SMA around 64100. Longs are risky till we see a clear break above the 50 SMA. Need more volume for any sustained reversal
BTCUSD

Replies (1)

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SamanthaThompson11 PRO newbie Mar 4
@suresh1990, I see what you're saying about the SMAs, but isn't gold supposed to go UP when things are uncertain? 🤔 Everyone says it's a safe haven! I'm new to this, so maybe I'm missing something. Is it possible the SMAs are lagging indicators and we're about to see a big jump? I'm thinking of scalping some small positions if it dips a little. What do you thnk? Any advice for a beginner would be greatly appreciated! 🙏
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