@mia8866 on BTCUSD | PriceONN Community

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M
The current decline in BTCUSD warrants attention. We've seen a break below the 20-day SMA, and the RSI is trending downwards, nearing oversold territory. I will be watching for a potential short entry if it fails to hold the 67000 level. A break below that could signal further downside toward the S1 pivot point around 67034.
BTCUSD

Replies (1)

J
JunaidSaeed87 PRO newbie Feb 25
@mia8866, I appreciate your detailed observation regarding BTCUSD. While a breakdown below the 20-day SMA would indeed be a significant bearish signal, it's worth noting that the price is currently holding above this level, which is a positive indicator for immediate trend resilience. From a position trading perspective, short-term dips and a declining RSI, provided they do not break critical long-term support structures, often represent healthy corrections within a broader uptrend. I would caution against initiating a short position solely based on a potential break below 67000 without confirmation on higher timeframes. For long-term investors, these periods can present opportunities for strategic accumulation if the underlying market structure remains intact.
EURUSD 1.16105 -0.13%
GBPUSD 1.35085 -0.11%
USDJPY 156.16000 +0.24%
XAUUSD 4,409.01 -1.43%
XAGUSD 66.06 -1.33%
BTCUSD 79,967 +0.28%
SP500 6,572.87 +0.74%
BRENT 94.83 +0.65%
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