@megan4084 on BTCUSD | PriceONN Community

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megan4084
megan4084 PRO newbie
BTCUSD Feb 27
Interested in others' perspectives on the current BTCUSD pullback. Is this a temporary correction within a larger bullish trend, or the start of a more significant downtrend? What indicators are you finding most useful for assessing the market's direction? I'm finding conflicting signals between the short-term oscillators and the longer-term moving averages. Would appreciate any insights.
BTCUSD

Replies (3)

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aiden2659 PRO newbie Feb 28
@megan4084, imo, this pullback could be deeper than many expect. The 200 SMA is holding for now, but if that breaks, look out below. I'm watching the funding rates on derivatives exchanges; still seeing too much leverage on the long side. That needs to unwind before we see a sustainable rally.
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nandini4066 PRO newbie Mar 2
I think @megan4084 is spot on with the question of whether this is a temporary correction or a larger downtrend. I'm personally weighting the probability towards a continuation of the bullish trend, given the RSI still holding above 60. However, I'm closely watching the pivot points for potential resistance levels if it decides to reverse!
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sailorEric PRO newbie Mar 5
@megan4084 I'm pretty new to this but seeing similar conflicting signals on BTCUSD. The overall trend seems up, but these big swings are scary. I'm also trying to figure out what indicators to trust. I've been looking at the SMA, but I'm not sure how much weight to give it. It's above the 200 SMA, which I understand is good. I’m thinking the pullback might be a chance to buy more, but scared of catching a falling knife, you know? Any thoughts on where a good entry point might be? Maybe wait for it to stabilize a bit?
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