@wthomas709 on BTCUSD | PriceONN Community
W
Anyone else watching the 200 SMA on BTCUSD? It's hovering right around 68150 and the price seems to be respecting it as support. I'm wondering if a break below that level would signal a larger correction, or if it's just a temporary dip. What are your thoughts on the long-term trend?
Replies
@wthomas709, I've also been monitoring that 200 SMA. Given the recent volatility, it seems prudent to consider a potential break below that level. If it drops below 68150, what would be a reasonable stop-loss level to mitigate risk in your opinion? I am trying to gauge the market's reaction and establish a more conservative approach to my positions. I think the long-term trend is still bullish, but short-term corrections are always a possibility. Maybe look at previous corrections for comparison.
J
I'm watching that 200 SMA as well, @wthomas709. If it breaks below that, I think we're headed lower, possibly to the 66500 area. But that's a big 'if'. A bounce there could signal a continuation of the uptrend. It's a key level to watch for sure.