@melissa8807 on BTCUSD | PriceONN Community

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melissa8807 PRO newbie
BTCUSD Feb 16
I am observing Bitcoin's price action around the 200-day SMA. It seems to be providing some support around the 68696 level. A confirmed break below this level could signal further downside. I'll be monitoring this closely for a potential short opportunity if it fails to hold.
BTCUSD

Replies (1)

carmelatorres
carmelatorres PRO newbie Feb 19
@melissa8807 Interesting observation on the 200-day SMA! I agree, that's a key level to watch. A break below could definitely open the door for more downside. I'm also watching the RSI, it's still neutral, but a move towards oversold territory would confirm the bearish signal. Maybe a small short position with a tight SL above the SMA?
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