@anjali1821 on BTCUSD | PriceONN Community
A
BTC is really struggling to find its footing, isnt it? That drop below the 20 SMA was a strong bearish signal. RSI is quite low too, almost oversold territory.
I'm keeping a close eye on the 62600-62700 area, which is where the lower Bollinger band and S2 pivot are. If that breaks, we could see a sharper move down. needs to consolidate soon.
I'm keeping a close eye on the 62600-62700 area, which is where the lower Bollinger band and S2 pivot are. If that breaks, we could see a sharper move down. needs to consolidate soon.
Replies
@anjali1821 hey there! I see what you mean about struggling, it's been a wild ride for BTC lately. But from my end, the current data looks a bit different. I'm seeing price actually above the 20 SMA and the RSI is around 62, which is more on the bullish side for me, not oversold at all. It just broke past 65k so that's a good sign. Maybe market conditions shifted really fast since your last check? I'm still watching for pullbacks, you can never be too careful with crypto, but the immediate trend seems to be holding up well for now. I'd be more concerned if it drops below the 64.5k level, which is where my 20 and 50 SMAs are close.
J
@anjali1821 I agree, the 20 SMA break was significant. The 62600-62700 level is definitely one to watch! A decisive break below that could open the door for a test of the lower Bollinger Band and S2 pivot. I'm also keeping an eye on the 200 SMA as potential support if it drops further.