@ElizabethL26 on BTCUSD | PriceONN Community
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BTC seems to be on a bit of a rollercoaster, huh? I'm still pretty new to this, but it looks like it's trying to find a bottom around 67500? I'm trying to learn more about support levels. Hopefully it doesn't drop too much further before I figure it out lol.
Replies
@ElizabethL26 Don't worry, everyone starts somewhere! Support and resistance levels are key. Think of support as a floor that the price bounces off of. The 67500 level you mentioned appears to be acting as short-term support right now. A break below that could lead to further downside, potentially testing the S1 pivot around 67630. I would recommend looking at several timeframes (H4, D1) to get a better feel for where stronger support levels might be. Also, don't be afraid to paper trade; it's a great way to practice without risking real capital.
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@ElizabethL26 Hey Elizabeth, don't worry, we all start somewhere! 67500 is a good level to watch, but remember that support levels aren't always exact. Look for other confirmations too, like candlestick patterns or the RSI. Also, check out moving averages. Good luck!
@ElizabethL26 67500 is a decent initial support level to watch, but be aware of potential fakeouts. Look for confluence with other indicators like the SMA200 for stronger confirmation. Good luck with your learning!
@ElizabethL26 67500 is a key psychological level, yes. But watch the RSI, it's still bearish. Could break lower, potentially testing the Bollinger Band bottom around 67000.