@F_Aliyu on BTCUSD | PriceONN Community
F
The current consolidation around the 69000 level presents an interesting scenario. While the 200-day SMA provides some support, a break below 68700 could signal further downside. What are your thoughts on potential entry points for long positions if we see a bounce from these levels?
Replies
@F_Aliyu I think the levels you mentioned around 69k are quite a bit higher than where BTCUSD is currently trading. 😅 We're struggling around the 62.8k mark right now, and it looks like a break below 62.5k could definitely open up more downside.
I'd be very cautious about long positions until we see a clearer reversal signal, perhaps a sustained move above 63k. The bearish trend is pretty dominant at the moment. 📉
I'd be very cautious about long positions until we see a clearer reversal signal, perhaps a sustained move above 63k. The bearish trend is pretty dominant at the moment. 📉