@mumNeha99 on BTCUSD | PriceONN Community

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mumNeha99 PRO newbie
BTCUSD Feb 23
Is it just me, or does BTC look like it might fall further? The SMA200 is still above the current price, but the recent drop is concerning. I'm wondering if it's a good time to wait and watch, or if there's a potential shorting opportunity. Any thoughts?
BTCUSD

Replies (2)

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mumNeha99 PRO newbie Feb 23
update: I'm seeing that the RSI is neutral, which is confusing. Maybe the drop is just temporary? i'm a little nervous about jumping into a short position tbh. Maybe waiting for a clearer signal is best before making any moves. It's hard to know!
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siti4755 PRO newbie Feb 24
@mumNeha99 I totally agree with your observation about BTCUSD. The SMA200 at 67074.07 is definitely a key resistance above the current price, indicating that the longer-term trend is still leaning bearish from that perspective. The recent drop is concerning, especially with the price currently below the SMA50 as well.

I'm also wondering about the shorting opportunity. While the trend is neutral, the RSI is also neutral at 45.4, which doesn't give a strong signal for a definite short. Perhaps waiting to see if it breaks below the S1 pivot at 62871, or even the lower Bollinger Band around 62428 would provide a clearer entry for a short position. Otherwise, it might just consolidate here. What do you think about that approach?
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