@adam4174 on BTCUSD | PriceONN Community

Hi @adam4174, I agree that breaking below all those SMAs is a bearish sign. However, I think it's important to consider the broader context. BTCUSD has been on a tear lately, so a pullback is almost inevitable. I'd be looking at potential support around the 67500 level, where the 50 SMA is currently sitting. Also, keep an eye on the psychological level of 67000. A bounce from either of those points could signal a reversal. Just my 2 cents!

@adam4174 Great analysis on the short-term bearish pressure! I totally see what you mean about being below the 20 and 200 SMAs, but I'm looking at the bigger picture for BTCUSD. While we're below the 20-SMA, we're still comfortably above the 50-SMA on the D1 chart, which I consider a more significant long-term support for my investment strategy. I'd be watching the 66k area, specifically where the 200-SMA sits, as a crucial support level if we see further downside. For reversal indicators, I always keep an eye on the MACD for bullish divergence on higher timeframes and a strong push above the middle Bollinger band, maybe around 68200, to signal a potential shift. I'm still feeling quite optimistic about its fundamental strength!

Adam, I'm seeing the same bearish signals. Breaking below those SMAs is significant. I'd be watching for a confirmed break of the 65500 level before considering a short position though. Momentum is still pretty choppy.