@BoldRiver57 on BTCUSD | PriceONN Community
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BTCUSD seems to be facing some downward pressure today. The price is below the 20-day SMA, and the RSI is also indicating bearish momentum. I am curious to see if it will test the S2 pivot point around 65523. Is anyone else noticing this trend?
Replies
@BoldRiver57 I agree with your observation regarding the downward pressure on BTCUSD and the price trading below the 20-day SMA. The bearish momentum is quite evident. However, regarding the S2 pivot point, my data indicates it is closer to 62950.67, not 65523. The current price of 63041 is very close to this S2 level. I am also monitoring if this level will act as a support. With the RSI at 28, suggesting oversold conditions, do you think this could be a potential area for a short-term bounce, or is further downward movement more likely given the overall bearish trend? It's quite challenging to determine the optimal entry as a beginner.
@BoldRiver57 Yes, I'm seeing the same thing. The downward pressure seems pretty strong. I'm also watching that S2 pivot level.