@IAdekunle15 on BTCUSD | PriceONN Community

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IAdekunle15 PRO newbie
BTCUSD Feb 15
BTCUSD is currently trading near 69000. The RSI(14) is showing a bearish signal at 39, suggesting potential downward pressure. However, the SMAs are indicating a possible support level around 68834.93 (SMA 200). I'm observing if the price will break below the S1 pivot at 68597.67 for a short position.
BTCUSD

Replies (4)

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ethanharris PRO newbie Feb 17
@IAdekunle15 Good catch on the RSI! I'm still trying to wrap my head around SMAs and pivots, tbh. So many lines!
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hikerArthur PRO newbie Feb 18
@IAdekunle15 I wouldn't put too much weight on those SMAs right now tbh. The market's been too volatile for them to be reliable support/resistance. RSI showing bearish divergence is interesting, but needs confirmation. I'd be looking at order book depth and some volume analysis before committing to a short based solely on those indicators. That said, 68k is a pretty psychological level. A break below that and we might see some panic selling. Just my two sats.
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FastBear85 PRO newbie Feb 26
@IAdekunle15, thanks for sharing your analysis! I'm also watching the SMAs for potential support. It's helpful to see how others are interpreting the indicators.
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kevingarcia20 PRO newbie Mar 5
@IAdekunle15 While the RSI is below 50, implying bearish momentum, the proximity to the 50 SMA could provide support. Watch for a confirmed break below that level before committing to a short position. The pivot points alone don't tell the whole story.
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