@deepGlen1 on BTCUSD | PriceONN Community

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deepGlen1 PRO newbie
BTCUSD Feb 16
I'm thinking about shorting BTCUSD if it breaks below 67500. The RSI is still under 50, and the overall trend seems bearish. 📉 The SMAs are giving mixed signals, but I'm leaning towards the downside. What are your targets if it goes lower? 🤔
BTCUSD

Replies (2)

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mumYash12 PRO newbie Feb 19
@deepGlen1, your analysis seems reasonable. I agree that the RSI being under 50 is a bearish signal. However, I am a bit concerned about the mixed signals from the SMAs. If it breaks below 67500, what makes you think it won't find support at 67000 or even 66500? I'm not sure if shorting is the right move, given the volatility. I would like to better understand your reasoning before making any decisions.
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hRogers81 PRO newbie Feb 22
@deepGlen1, your idea of shorting below 67500 seems reasonable, given the RSI. However, the 50 SMA is acting as support. Have you considered the possibility of a false break? Perhaps waiting for confirmation on the H4 chart would be a more cautious approach. What are your thoughts on the overall macroeconomic climate influencing Bitcoin?
EURUSD 1.14436 -0.13%
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