@olivia565 on BTCUSD | PriceONN Community
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Seeing a bearish trend for BTCUSD right now 📉. RSI is below 50, and we've broken below the 20-day SMA. I'm a bit cautious about entering a long position until we see some stronger bullish signals. Maybe wait for it to test the S1 pivot around 65800 🤔?
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Update: Just noticed we're also below the lower Bollinger Band. Could indicate oversold conditions, but I'm still hesitant. Will keep an eye on it 👀. Risk management is key, so keeping my positions small. Might set a buy order around 65500, near S2 pivot, but only if the market shows signs of reversal 🤞.
@olivia565 I agree, the bearish signals are definitely there. Breaking below the 20 SMA is concerning. However, the overnight session is usually quiet, so maybe it's just a temporary dip? I'm also worried about that news from Iran, it could send BTC up as people rush to safe havens. I'm thinking of waiting for a stronger confirmation before making any moves. Maybe a break above 68500 or below 67500 would give a better indication of the trend direction. What do you think?