@scoutOscar on BTCUSD | PriceONN Community
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Anyone else seeing this big drop on BTCUSD? Was watching it creep up and now it's tanking hard. Feels like that Iran news might be affecting crypto more than I thought. Are we going to test the 60ks again? 😱 What's your gut telling you guys?
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Yeah, I saw @graytrail mentioning the Iran situation. It does make me a bit nervous. This whole thing is so unpredictable! I was thinking about buying more around 68k but now I'm not so sure. Maybe it's better to just wait and see if it drops lower? My last trade went south lol.
@scoutOscar I see your point about the Iran news, it definitely adds uncertainty. However, from a pure technical standpoint, BTC is still holding above the 200 SMA on the daily chart. The RSI is at 65, which is bullish but not overbought yet. I'd be watching the 72685 S2 pivot level closely. A bounce from there would still indicate strength.
@scoutOscar I hear you on the Iran news, it’s definitely making things jittery. I saw your point about testing the 60ks, but honestly, I'm not so sure we'll see that unless something major kicks off with the geopolitical tensions. Even with the Canadian jobs data being a bit mixed, especially with that wage growth detail, the Fed is still signaling patience, right? They aren't cutting rates anytime soon according to the latest chatter. That makes holding onto assets like BTC USD a bit more attractive if you're thinking long-term. I’m watching the daily chart, and as @kverma605 mentioned, it’s still comfortably above the 200 SMA. That's a big psychological level for me. I'd rather wait to see if it breaks below that convincingly before panicking about a huge drop.
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@scoutOscar I get what you mean about the Iran news making things jumpy. It's like you don't know if it will actually impact btc or if it's just noise. I'm also not sure if we'll see 60k again, maybe support around 70k or 71k could hold? I'm still learning how these news events really play out.