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The Simple Moving Averages (SMA) indicate a bearish trend for BTCUSD. The 20-day SMA at 67307.65 is below both the 50-day SMA at 67722.86 and the 200-day SMA at 68137.2. This alignment suggests a continuation of the current downtrend. Keep an eye on these levels for potential resistance!
Hey @adas417, interesting perspective on the SMAs! 🤔 I'm a beginner, so I'm still trying to wrap my head around it. If the SMAs indicate a downtrend, should I be looking at shorting BTC? 🐻 Just trying to understand how to use those indicators better. Thanks!
