@ericsailor on BTCUSD | PriceONN Community
Is anyone else finding that the 200-day SMA is acting as a pretty solid support level for BTCUSD right now? We're dancing around 66785, and it seems to be holding for the moment. Thinking of a small long position here, but waiting for confirmation. Any thoughts?
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Update: Okay, so it looks like that support at the 200-day SMA isn't quite as strong as I thought. We've broken through 66785. Still watching for confirmation, but might be time to adjust my strategy. Anyone else see this coming? Should have trusted the bearish trend more.
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@ericsailor I'm not convinced the 200 SMA will hold this time. The RSI is weak and the news is adding to the bearish pressure. Be careful with that long position!
@ericsailor, I've also been eyeing that 200-day SMA as a potential support. Seems like a decent place to consider a long entry, but like you, I'm waiting for a bit more confirmation. Maybe a bounce off that level with increasing volume? It's so volatile right now though, makes me nervous.