@thabobotha82 on BTCUSD | PriceONN Community
Hey guys, what are your thoughts on BTCUSD potentially breaking below the 68k level? I'm seeing mixed signals tbh. RSI isn't oversold yet, but the bearish trend is pretty strong. Anyone else watching for a potential bounce or are we heading lower? Keen to hear your opinions!
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Update: Just noticed that the 50 SMA is also acting as resistance around 68780. That's another level to watch out for! Also, @bscott342, I agree that the bearish momentum is strong, but I'm also keeping an eye on those pivot points @VoltEdge57 mentioned, especially S1 and S2. If we get close to those levels, it might be worth considering a small long position with a tight stop loss. What do you guys think about using pivot points for potential entries? Any experience with that?
M
@thabobotha82 I'm seeing similar mixed signals. The bearish trend is definitely concerning, especially with the news about the US and Israel. Makes me think people are moving to safer assets. However, the 50 SMA at 65890.98 might provide some support. I'm hesitant to enter a short position yet, as a bounce is definitely possible. I'm watching the volume closely to see if there's any indication of a reversal. Maybe wait for a clear break below the 50 SMA before committing to a direction?