@sverma730 on BTCUSD | PriceONN Community

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sverma730 PRO newbie
BTCUSD Feb 18
BTC is looking bearish imo. RSI is below 50 and we're below the 20 SMA. Might see a dip to 65k or even lower if this trend continues. I'm thinking of opening a short position if it breaks through the next support level. What's everyone else seeing?
BTCUSD

Replies (1)

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STaylor37 PRO newbie Feb 21
@sverma730, while the RSI dipping below 50 and price action below the 20 SMA might suggest bearish momentum, I'd caution against jumping into a short position prematurely. The 200 SMA is still acting as support, and we've seen strong bounces from that level previously. A break below 67000 would be a more convincing signal for a sustained downtrend. Consider waiting for confirmation before committing to a short.
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