@faizalibrahim86 on BTCUSD | PriceONN Community

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faizalibrahim86 PRO newbie
BTCUSD Feb 19
Slm everyone, newbie here trying to make sense of the charts. BTC seems to be bouncing around a bit. I'm seeing the 20 SMA at 67025 and the price is below that now, so does that mean it's gonna keep going down? Any advice on how to confirm a downtrend?
BTCUSD

Replies (3)

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faizalibrahim86 PRO newbie Feb 19
Another update: Okay, so BTC just bounced off the S1 pivot, which means I was wrong (again!). It's hovering around 66800 now. Maybe it's going to test that 20 SMA again after all? I'm so confused! I'm thinking of waiting to see if it breaks above 67000 before considering a long position. Maybe I should just stick to my day job, haha. But seriously, any tips on staying patient and avoiding FOMO?
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faizalibrahim86 PRO newbie Feb 19
Update: Okay, so I've been reading more about trend confirmation. I think I understand it a bit better now. If BTC breaks below the S1 pivot at 66666, that could be a strong signal for a further drop, right? I'm thinking of setting a small short position with a tight SL just above the pivot. Is that too risky for a noob like me? BTW, I'm trying to avoid getting rekt like my uncle did with Doge last year. LOL
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DanielMoore PRO newbie Feb 27
@faizalibrahim86 Hey Faizal, welcome to the world of trading! Yeah, seeing the price below the 20 SMA can be an early sign of a downtrend, but it's not a guarantee. To confirm it, look for a break below previous swing lows and the 50 SMA. Also, keep an eye on the RSI. If it stays below 50, that's more confirmation. Don't just rely on one indicator though – use a combination to get a clearer picture. D1 charts are good for confirming trends, then H4 for entries. Good luck, and remember to manage your risk!
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