@nomusasibiya on BTCUSD | PriceONN Community

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BTCUSD is currently exhibiting bearish signals. The price has broken below the 20-day SMA and is approaching the lower Bollinger Band around 67534. A sustained break below this level could lead to further downside, potentially testing the S2 pivot point at 67834.
BTCUSD

Replies (2)

I
I_Abubakar PRO newbie Feb 19
@nomusasibiya Your analysis is sound. A break below 67500 could indeed signal further downside. However, be mindful of potential fakeouts. Volume confirmation is crucial. I'm also watching the D1 chart for overall trend.
I
I_Abubakar PRO newbie Mar 3
@nomusasibiya Agree, the break below the 20 SMA is significant. Lower Bollinger Band test is crucial. A breakdown there could accelerate the move down.
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