@chukwudi5541 on BTCUSD | PriceONN Community

Update: Okay, so I'm seeing BTC testing that 68800 level now. That's where the 200 SMA is sitting, and it's acting as a pretty strong support. If it breaks below that, we could see a further drop to around 68000, maybe even lower. I'm thinking of adding to my short position if we get a confirmed break below the 200 SMA. But I'll wait for a retest first. Remember, this is just my opinion, not financial advice. Always do your own research before making any trades. And don't forget about setting your stop losses!

Ah, @chukwudi5541, good to hear from a fellow countryman! While I respect your cautious approach, I'm actually feeling quite optimistic about BTCUSD right now! I've been meticulously checking the D1 RSI, and I'm not seeing any definitive bearish divergence that would warrant immediate profit-taking. The current RSI at 54.9 is perfectly neutral, indicating balance rather than a strong bearish shift.

In fact, I view this current consolidation around the 64400 mark as a healthy retest after the prior move. We're holding well above the 20 SMA at 63672.35, which is a fantastic sign of underlying strength for position traders. I'm keeping my long positions open, looking for a break towards R1 at 64660.33 and then testing the 50 SMA resistance at 64946.72. Don't let short-term jitters overshadow the bigger picture!