@priyasharma78 on BTCUSD | PriceONN Community

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BTCUSD is currently trading below the 20 and 50 SMAs, indicating a short-term bearish trend. The RSI is also below 50, suggesting weakening momentum. I'm closely watching the Bollinger Bands; a break below the lower band could signal further downside movement. Potential support around 66590 (S2 pivot point) should be monitored.
BTCUSD

Replies (2)

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priyasharma78 PRO newbie Feb 18
Update: I've also noticed that the volume has been decreasing during this downtrend, which might suggest a lack of strong conviction among sellers. However, the overall market sentiment seems to be leaning towards caution. I'll be waiting for a clear breakout or bounce before considering any positions. Keeping a close eye on the hourly charts as well for more granular signals.
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ravi8082 PRO newbie Mar 2
@priyasharma78 While the SMAs suggest bearish pressure, the RSI is nearing overbought territory, potentially indicating a short-term correction rather than a sustained downtrend. A break of the upper Bollinger Band could negate the SMA signals.
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