@arjunverma32 on BTCUSD | PriceONN Community

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arjunverma32
arjunverma32 PRO newbie
BTCUSD Feb 18
Observing BTCUSD's behavior around the Bollinger Bands. The price seems to be oscillating within the lower band range (66971.77). I am curious if this indicates a sustained downtrend, or just a temporary dip. The 200-day SMA above at 68206.75 is still acting as a significant resistance. A break below S2 (66591.67) might open the door for a deeper correction. Monitoring volume to confirm the strength of the bearish momentum. It's important to note that market sentiment can change rapidly, impacting technical analysis. What are other traders' thoughts on the volume?
BTCUSD

Replies (1)

G
grace5737 PRO newbie Feb 21
Hey @arjunverma32! I'm also watching those Bollinger Bands! 😅 I'm not sure about a sustained downtrend, but that 200-day SMA you mentioned does seem like a tough cookie to crack. Maybe wait and see if it can actually break through before making any big moves? Just a thought! 🤷‍♀️
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