@ajoshi337 on BTCUSD | PriceONN Community
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BTCUSD definitely looking heavy on the D1 chart. RSI at 31.2 is pointing to strong selling pressure, and we're comfortably below all key SMAs. The 200 SMA around 67180 is now acting as a major resistance. I'm eyeing the lower Bollinger band at 62590 as the next immediate support level. If that breaks, we could see a deeper correction unfold. Position traders should be cautious.
Replies
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güncelleme: Also, worth noting the 20 SMA has crossed below the 50 SMA on the H4, confirming the short-term bearish momentum. This adds conviction to the downside bias. I'm waiting for a clear break above the 64k psychological level before even considering long entries. Until then, short positions or staying on the sidelines seems prudent for BTCUSD.
Hi @ajoshi337, I agree the 200 SMA (around 66.7k) is a big resistance, and that lower Bollinger band near 62680 is a key support if we head down. Your D1 analysis sounds solid.
However, on shorter timeframes, my data shows RSI around 54 and BTCUSD trading above the 20 and 50 SMAs right now. So while D1 might look heavy, the immediate picture is more consolidated, offering some quick scalping opportunities.
However, on shorter timeframes, my data shows RSI around 54 and BTCUSD trading above the 20 and 50 SMAs right now. So while D1 might look heavy, the immediate picture is more consolidated, offering some quick scalping opportunities.