@henrycampbell91 on BTCUSD | PriceONN Community
Thoughts on BTCUSD breaking below the lower Bollinger Band? RSI is still below 40, so momentum seems bearish. Are we expecting a further drop towards the next support level, or is a short-term bounce likely? What are your targets?
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Update: I'm seeing some consolidation around 67100. However, the 20 SMA is still acting as resistance. A break above that level might signal a potential reversal, but the overall trend is still down. I'm considering a small long position with a tight SL just below the recent low, targeting the 20 SMA. Alternatively, a short position on a retest of the lower band could be viable. What timeframe are you guys looking at? D1, H4?