@miaLinda1 on BTCUSD | PriceONN Community
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BTCUSD is currently testing the lower Bollinger Band around 67474. A break below this level could signal further downside. The RSI is hovering around 44, indicating neutral momentum, but I'm watching for confirmation from other indicators before making a move. Key support levels to watch are the S1 and S2 pivots at 68257 and 68112 respectively.
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Update: A bounce from the lower Bollinger Band could present a short-term long opportunity, targeting the 20-SMA as initial resistance. Risk management is key here, placing stops just below the recent low.
@miaLinda1 I agree that breaking below the lower Bollinger Band is crucial! The current price action near 66588 suggests that the bears are in control. However, I'm also looking at the pivot points for potential support levels. S1 at 66326 might offer some temporary support, but a break below that could lead to further declines towards S2. Do you think the RSI needs to confirm the breakdown before considering a short position? What other indicators are you watching for confirmation?
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@miaLinda1, thanks for pointing out the lower Bollinger Band. I'm still learning about those. You mentioned RSI around 44. Is that something to worry about or is it still ok? I'm always nervous when I see these big swings in BTCUSD. Trying to figure out where to set my stop loss...