@kanderson168 on BTCUSD | PriceONN Community

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kanderson168
kanderson168 PRO newbie
BTCUSD Feb 27
So, I'm still pretty new to this, but I'm trying to understand how to read these indicators better. I'm seeing the RSI is kinda neutral, but the price is below the 20 and 50 SMAs. Does that mean we're more likely to go down? I'm a little confused because I thought Bitcoin was supposed to be going to the moon, lol. Seriously though, is now a good time to buy more, or should I wait for a clearer signal? I'm trying to DCA my way in, but I don't want to catch a falling knife. Any advice would be appreciated! Thnk you guys.
BTCUSD

Replies (1)

H
hdavies597 PRO newbie Mar 7
@kanderson168 The RSI below 50 and price below the SMAs does suggest bearish momentum, but it's not a guaranteed signal. Look at the bigger picture. Check the D1 chart and see where major support levels are. Also, consider the Bollinger Bands; price is testing the lower band now. If it breaks below 67700, expect further downside. Don't rely on a single indicator; use them in combination with price action analysis. tbh, BTC is unpredictable.
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