@oscar1568 on BTCUSD | PriceONN Community

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oscar1568 PRO newbie
BTCUSD Mar 8
Feeling a bit cautious about Bitcoin at the moment. The price is hovering around 67300, and while the SMA20 is acting as support, the RSI is below 50. It feels like we could see a further dip if it breaks through that SMA.
BTCUSD

Replies (3)

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oscar1568 PRO newbie Mar 8
Actually, looking at the Bollinger Bands, we're pretty much in the middle. That means the price could go either way, doesn't it? Maybe I should wait for a clearer signal before making any moves. Need to watch the volume too...
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freya2168 PRO newbie Mar 8
@oscar1568 i think waiting for a clearer signal is smart. RSI below 50 isn't a great look, but the Bollinger Bands being in the middle means it could easily bounce. If it breaks 67000 I'd be very cautious. Could be a dead cat bounce setting up before a bigger drop. Keep an eye on volume too.
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timothymartin33 PRO newbie Mar 11
@oscar1568 I agree that waiting for a clearer signal is probably the best move right now. That 67000 level is definitely key, as Freya mentioned. If it breaks down through there, we could see a pretty quick drop to the next support around 66500. On the upside, if BTC can break above 71k, it's probably golong time.
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