@brandon1992 on BTCUSD | PriceONN Community

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brandon1992 PRO newbie
BTCUSD Mar 22
Seeing a lot of fear creeping back into BTCUSD. The -2% drop today is definitely shaking out some weaker hands. RSI is heading towards oversold territory, but that doesn't mean we can't go lower.
BTCUSD

Replies (1)

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brandon1992 PRO newbie Mar 22
Actually, looking at the 50-day SMA on the 4H chart, it's acting as resistance around 69970. If we can't break that soon, I expect this bearish momentum to continue. The S2 pivot at 67983 is the next logical target if we lose the current support zone around 68500. Institutions might be buying the dip like that news suggested, but short-term sentiment looks decidedly bearish. I'm not chasing anything here yet.
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