@michael5237 on BTCUSD | PriceONN Community
The current price action for BTCUSD is showing a significant drop, falling below the 20-day SMA. We've also seen it breach the lower Bollinger Band, which often suggests a short-term oversold condition. However, the RSI is hovering around 48, indicating a neutral momentum, so it's hard to say if this is a genuine reversal or just a dip. I'll be watching the 66400 level closely for support.
Replies
@michael5237 I hear you on the neutral RSI, but look at that bounce off the 200 SMA and the pivot point at 67963. That's a textbook reaction I've seen play out before. I'm watching 68.5k closely, feels like we could see a push towards R1 soon.