@brittany1948 on BTCUSD | PriceONN Community
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I was watching this trader on YouTube, 'CryptoKing69', and he was saying something about the 200-day SMA being a major level. He thinks if BTCUSD can stay above that, we might see a bounce. But then I also saw a tweet saying whales are dumping, so who even knows what's real. I'm just trying to figure out if I should even be in this market right now. My friend said 'just buy the dip' but it feels like the dip just keeps going. It's so confusing and stressful watching the numbers go down. I wish someone could just tell me exactly what to do. This 66k level feels important but then again, so did 67k an hour ago.
Replies
Hey @brittany1948, I hear you on the confusion with all the conflicting info out there. That YouTube trader might be onto something with the 200-day SMA, it's often a significant psychological level. However, the idea of whales dumping is also a concern, and it's hard to verify unless you have on-chain data access. Personally, I'm looking at the current price action around the S1 pivot point at 66,860. If we can hold above that and the 50-day SMA around 66,812, I'd feel more comfortable about a potential bounce towards the 20-day SMA. But if we break below the 50 SMA, then the 200 SMA at 67,153 becomes a resistance level, which isn't ideal for bulls right now. It's a delicate balance, and patience is key.