@hassan1995 on BTCUSD | PriceONN Community
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I'm staring at the charts and I'm honestly a bit confused. On one hand, the SMA 50 is below the SMA 20, which usually means a downtrend... but the RSI is around 50, so not really oversold or overbought. Plus, BTC is above the 200 SMA. I thought the market cap increasing would be a good sign, but I'm not really sure what to make of it all. Is anyone else feeling this way? Maybe I should just stick to my long-term investment strategy and not worry too much about these short-term fluctuations...
Replies
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@hassan1995 Hey Hassan, I feel your pain haha. Chart's can be confusing af sometimes. Don't get too hung up on the SMAs crossing, especially on shorter timeframes. Look at the bigger picture. BTC is still above that 200 SMA like you said, which is a good sign. RSI around 50 just means it's not overbought or sold, could go either way. I'd pay more attention to price action around key levels like 73k resistance and maybe look for some inducement plays before going long. Just my 2 sats tho, I'm still learning too lol.
@hassan1995 I understand the confusion. SMAs can be lagging indicators, especially in a volatile market. Try looking at price action around key support and resistance levels in addition to the SMAs.