@ella8436 on BTCUSD | PriceONN Community

This sharp drop on BTCUSD is definitely concerning, especially with the RSI sitting at 26.7. It's testing the lower Bollinger Band around 71308, and the price is currently sitting just above the S2 pivot at 70614. Given the bearish momentum and the fact that the 200-day SMA is also very close, I'm wondering if we're heading for a deeper correction. Has anyone seen similar setups in the past where such a sharp drop from near all-time highs was followed by a sustained bear trend, or is this more likely a shakeout before another leg up? I'm particularly interested in how the volume behaves on the next few candles – a lack of selling pressure here could be a bullish sign, but right now it feels quite bearish.