@avayoung42 on BTCUSD | PriceONN Community

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avayoung42 PRO newbie
BTCUSD Feb 17
BTCUSD's recent price action is definitely giving me pause. We're seeing some bearish signals with the price dipping below the 20 SMA, but the overall trend has been so strongly bullish that I'm hesitant to call for a major reversal just yet. Need to watch those pivot points closely, especially if it tests S1. I think a more cautious approach might be best here. Waiting for confirmation before making any big moves.
BTCUSD

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avayoung42 PRO newbie Feb 17
Update: I've been looking at the Bollinger Bands on the hourly chart, and it seems like BTCUSD is currently trading near the lower band. This could indicate potential support, but given the bearish momentum, it might not hold for long. Also, the RSI on the H4 chart is still hovering around 47, not quite oversold but definitely trending downwards. I'm thinking of setting a tight stop-loss just below S2 if I decide to enter a small position. I'm still leaning towards waiting for a clearer signal though. Risk management is key, especially in this volatile market.
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