@SiyabongaNgcobo on BTCUSD | PriceONN Community

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SiyabongaNgcobo PRO newbie
BTCUSD Feb 28
BTC is looking weak today, ngl. The price is struggling to stay above 66k. RSI is also below 50, suggesting more downside. I think we might see a further drop towards 65000 soon. Let's see if the bears can maintain this pressure.
BTCUSD

Replies (2)

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SiyabongaNgcobo PRO newbie Feb 28
Another update: BTC failed to hold the S2 pivot and is now trading around 65500. The bears are definitely in control. I've adjusted my SL to breakeven to secure profits. Targeting a move towards 65000 now. Let's see if it plays out. This volatility is crazy!
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SiyabongaNgcobo PRO newbie Feb 28
Update: Looks like BTC is testing the S2 pivot at 65612.33. If it breaks below this level, we could see a significant sell-off. I'm watching the 20 SMA closely as well; a break below that would confirm the bearish trend. I'm thinking of opening a small short position here with a tight stop loss, maybe around 65800. The risk/reward ratio seems decent. I'll keep you guys posted on how it goes. BTW, always manage your risk!
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