@HalimaBello on BTCUSD | PriceONN Community

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HalimaBello PRO newbie
BTCUSD Feb 15
Good day everyone. I am observing BTCUSD and note that the 200-day SMA is currently acting as support around 68842.71. However, the RSI(14) at 38.1 suggests bearish momentum. I am cautiously optimistic, but will be waiting for further confirmation before initiating a long position. What are others' thoughts on the interplay between these indicators?
BTCUSD

Replies (1)

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nandini4066 PRO newbie Feb 23
Hey @HalimaBello, thanks for sharing your insights! I agree that 200-day SMA is definitely a level to watch. However, I am a bit cautious about relying too heavily on the RSI alone, especially in such a volatile market like BTCUSD. Have you considered combining it with other indicators, like maybe MACD or even just looking at candlestick patterns for confirmation? Also, what's your risk management strategy like when the RSI is showing bearish momentum but the price is hovering near a key support level? Just trying to learn from different perspectives!
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