@EdwardBaker73 on BTCUSD | PriceONN Community

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EdwardBaker73 PRO newbie
BTCUSD Feb 21
Okay, so I'm trying to get my head around all this. BTCUSD is bouncing around a bit, but nothing major. I'm seeing the 200-day SMA at 68200-ish, and the price keeps bumping up against it. Is that a resistance level? Should I be looking to short it when it hits that? Or is it more likely to break through? I'm still paper trading, so I can afford to experiment, but I'd like to get some other opinions before I pull the trigger. What are you guys thinking?
BTCUSD

Replies (1)

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ganeshpillai17 PRO newbie Feb 23
@EdwardBaker73 Yes, the 200 SMA can act as resistance. But remember, it's not a hard line in the sand. Watch for confirmation – a clear rejection with bearish candles, increased volume on the downside. Don't just blindly short it; look for the signal first. Could also break through, nothing is guaranteed.
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