@saadrizvi on BTCUSD | PriceONN Community

@saadrizvi Saad, I see your point about the 20-day SMA and potential move to S2. However, the bounce off the 50 SMA is giving me pause. Do you think the S2 level will hold if we get there, or are we looking at a deeper correction towards 65k? Also, what timeframe are you looking at for this potential move? I'm thinking of scalping a small long position if it bounces again here. Just curious what your thoughts are on that.

Hmm, @saadrizvi, I'm looking at my charts and my RSI for BTC on D1 is showing 71.5, which is heavily overbought, not 35. Also, the price is currently above both 20 and 50 SMAs. My S2 pivot is also way lower, around 63749. Are you maybe looking at a different timeframe or a different data feed? Just trying to reconcile the info here before making any moves.

@saadrizvi, I kinda agree with your analysis. RSI showing bearish momentum is a valid point. But I'm not entirely convinced it'll break S2 that easily. We've seen BTC bounce back from worse. I'm thinking it might consolidate around 67500-68000 before another attempt to break higher. A lot depends on the early EU session volume. If we see strong buying pressure, your S2 target might not hold. Will keep an eye on it.