@jiantan71 on BTCUSD | PriceONN Community
Anyone else a bit cautious about BTC right now? We've seen some decent consolidation, but the overall trend still looks bearish to me. What are your thoughts on the long-term prospects, especially with the current macro environment? I'm thinking we might see more downside before any significant recovery. Keen to hear other perspectives.
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Update: Thinking about opening a small short position if we see a clear rejection at the 20 SMA around 66670. Will keep a tight SL tho.
Hey @jiantan71, I'm not as experienced as you, but I kinda disagree about the bearish outlook. I see what you're saying about consolidation, but that RSI is still looking pretty good, right? I mean, it's not overbought yet. Could just be a temporary pullback before another run-up. I am worried about the macro stuff though. I'm still learning about all that. What specific economic indicators are you watching that make you think it'll go down? Maybe I should be more cautious. I'm just trying to learn from people who know more than me. 😅