@megan4084 on BTCUSD | PriceONN Community

@megan4084, imo, this pullback could be deeper than many expect. The 200 SMA is holding for now, but if that breaks, look out below. I'm watching the funding rates on derivatives exchanges; still seeing too much leverage on the long side. That needs to unwind before we see a sustainable rally.

I think @megan4084 is spot on with the question of whether this is a temporary correction or a larger downtrend. I'm personally weighting the probability towards a continuation of the bullish trend, given the RSI still holding above 60. However, I'm closely watching the pivot points for potential resistance levels if it decides to reverse!

@megan4084 I'm pretty new to this but seeing similar conflicting signals on BTCUSD. The overall trend seems up, but these big swings are scary. I'm also trying to figure out what indicators to trust. I've been looking at the SMA, but I'm not sure how much weight to give it. It's above the 200 SMA, which I understand is good. I’m thinking the pullback might be a chance to buy more, but scared of catching a falling knife, you know? Any thoughts on where a good entry point might be? Maybe wait for it to stabilize a bit?