@nicolemartin13 on BTCUSD | PriceONN Community
This current dip is quite pronounced, down nearly 2% today. I'm seeing the 50-day SMA getting tested around 76127. Does anyone else feel like this is a healthy correction before a potential move higher, or are we looking at further downside from here?
Replies
Regarding my earlier point about the SEC allegations, it does make one pause. While it's a specific company, any negative news can cast a shadow. I'm trying not to let it overly influence my view, but it's definitely a factor to consider. I'm keeping an eye on how price reacts around the S2 pivot at 75828. If that level breaks decisively, it might be a sign that this sentiment is having a real impact. For now, I'm leaning towards a neutral stance until we see clearer price action or confirmation from the indicators. The RSI is still below 40, suggesting some bearish momentum, but the 200-day SMA at 73879 is still a significant support level far below. It's a bit of a waiting game.
A
Hey @nicolemartin13, I totally get what you mean about the dip. It's hard to tell if it's just a healthy correction or something more serious. I'm pretty new to this and honestly, I don't really understand the SMAs or anything like that. I just see the price going down and it scares me! Especially with that SEC lawsuit news that popped up, it feels like another reason for things to tank. I'm thinking of closing my position soon, just to be safe, but then I worry I'll miss out if it goes back up. What are other people doing?