BTCUSD Live Price, Chart & Technical Analysis Guest

Anyone else getting flashbacks to the May 2021 crash? We broke a similar support level then and things got ugly fast. Of course, past performance isn't indicative of future results, but I'm definitely keeping a close eye on the volume and the 200 SMA. Could be a bumpy ride ahead.

Currently holding a short position from 68200, watching BTCUSD closely as it approaches the S1 pivot at 66815.33 😬. RSI is oversold, which is a bit concerning for continuation, but the overall trend is bearish. I've tightened my stop loss to 67500 to protect profits. TP is still set at 65500. Let's see how this plays out 🙏.

Interested to hear what everyone's sentiment is regarding this current dip below 67500. Are we anticipating a dead cat bounce, or is this the start of a more significant correction? 🤔 The 20 SMA is about to cross below the 50 SMA which would be a pretty bearish signal on the daily chart. I'm leaning towards further downside, but the volume is not confirming yet. Thoughts on invalidation levels for a potential short squeeze? I'm thinking 69500 needs to hold. Any input appreciated 👍.

A quick tip for those trading BTCUSD during these volatile times: pay close attention to the correlation with the US indices, especially the Nasdaq. 💡 Historically, BTC has shown a tendency to mirror the movements of tech stocks. If you're seeing a significant sell-off in the Nasdaq futures, it might be wise to exercise extra caution with your BTC positions. Always consider the broader macroeconomic picture and intermarket analysis. Don't trade in a vacuum! 💯

Oh dear, another dip! I'm trying to hold onto my BTCUSD but it's a bit scary seeing it go down again. Is this normal for Bitcoin? I'm still learning, but I thought it was meant to be going up! I might need a cup of tea... and maybe some advice!