@mMartin34 on BTCUSD | PriceONN Community

Hey @mMartin34, I see your concern. The price has been consolidating around that 77k mark for a while now, and the overnight session was indeed quiet with thin liquidity, which can lead to these choppy moves. Looking at the H4 chart, RSI is sitting around 33, which is in oversold territory, but that doesn't automatically mean a bounce is imminent. We need to see some buying conviction. The 200 SMA is also just below current price around 77178, so that's a level to watch closely. If we break below S2 at 76689, that could signal further downside towards the 76k area you mentioned. I'm personally waiting to see if it can reclaim and hold above the 50 SMA at 77853 before considering any long positions.

Hey @mMartin34, I hear ya. This consolidation around 77k is making me a bit uneasy too. It feels like it's just hanging there, not really moving. I saw a headline about some altcoin, ETH I think, pulling back and that made me nervous about BTC too, even though it's a different market. The chart looks kind of flat. I'm not sure if it's going to hold that 76k support or if we're going to see a bigger drop. I'm just hoping it doesn't go lower than what you mentioned. My capital is tied up and I'm watching it like a hawk.