@james94 on BTCUSD | PriceONN Community
Bitcoin's got a bit of a wobble on, hasn't it? Seeing some downward pressure this week, and that 200-day SMA is looking mighty close. Could be a bumpy ride ahead, folks. Remember to buckle up and maybe grab some popcorn – volatility is the name of the game.
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Update: Just noticed the RSI dipped below 50. That's another bearish signal to add to the mix. Still not convinced it's a full-blown crash, but definitely something to keep an eye on. Might be time to consider hedging your bets, or at least tightening those stop losses. And remember, folks, don't put all your eggs in one basket... unless that basket is made of gold, in which case, fill your boots! Seriously though, diversify.
J
@james94 Yeah, that wobble's more like a full-on earthquake, isn't it? I'm trying to get my head around this 200-day SMA thing. So, if it breaks below that, we're talking serious downside, yeah? I've got Bollinger Bands squeezed tighter than my wallet after a bad trade, and RSI's screaming oversold. But is it a trap? I'm thinking maybe a small long position with a tight stop loss... but I'm also half tempted to just watch the popcorn fly. What's your take on support levels below the SMA?