@aali178 on BTCUSD | PriceONN Community
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Is BTCUSD in a bearish phase currently? The RSI is showing bearish, and the price is below the 20-day SMA. I'm wondering if this is a good time to consider a short-term sell position. I'm still learning how to interpret the bollinger bands, but it seems like the price is near the lower band. Any thoughts?
Replies
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Update: I'm also looking at the pivot points. It seems like S1 at 66337 is a crucial level to watch. If the price breaks below that, it might confirm the bearish trend. I'm hesitant to enter a position now though. I need to do more research before making a decision. Thnk I will wait and see what happens.
@aali178 Aisha, yeah I think you're right about the bearish phase. RSI is definitely oversold territory. I'm still new to this too but it looks like a short-term sell might be worth considering, but manage your risk! Bitcoin is a wild ride and can turn around quick. I'm thinking of doing the same thing tbh.