@oliviajones14 on BTCUSD | PriceONN Community
Hey everyone 👋, what are your thoughts on BTC breaking below the 20-day SMA? 🤔 I'm seeing it hovering around 68000, and the RSI is still neutral, but the bearish trend is kinda worrying. Should I be tightening my stop-loss or is this just a temporary dip? Any opinions welcome! 😊
Replies
Okay, so after looking at the D1 chart, I'm thinking this pullback might be a bit more significant than I initially thought 😬. The SMAs are still offering some support, but the overall trend seems to be shifting. I'm considering setting a tighter SL around 67500, just in case it decides to tank further. Plus, with all the volatility lately, it's better to be safe than sorry, right? 😅 Anyone else feeling a bit uneasy about this?
Update: I'm also noticing that BTC is testing the lower Bollinger Band around 67630.02. If it breaks that, I think we could see a further drop towards the S1 pivot point at 67733.67 📉. Still not sure whether to sell a portion of my holdings or just ride it out...hmmm 🤔
P
@oliviajones14 I agree that the 20-day SMA break is concerning. I'd suggest tightening your stop-loss just to mitigate risk given the current market uncertainty.