@AishwaryaIyer on BTCUSD | PriceONN Community

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A
Hello everyone, I'm relatively new to trading BTCUSD and I've noticed the recent bearish trend. The price has dropped below the 20, 50, and 200 SMAs. What are your thoughts on potential entry points for short positions, considering the current RSI of 36.5? I'm particularly interested in hearing about strategies that incorporate Bollinger Bands in this scenario.
BTCUSD

Replies (1)

A
AishwaryaIyer PRO newbie Feb 18
Update: I'm closely monitoring the Bollinger Bands. The price is currently near the lower band, suggesting potential oversold conditions. However, given the strong bearish momentum, a break below the lower band could signal further downside. I'll be watching for confirmation with candlestick patterns on the H4 chart! Any thoughts on this?
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