@AdamGreen65 on BTCUSD | PriceONN Community

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AdamGreen65 PRO newbie
BTCUSD Feb 16
Anyone else notice how BTCUSD keeps bouncing off that 200-day SMA around 68800? Seems like a pretty solid support level. I'm curious to see if it holds this time, especially with the current bearish pressure. Might be a good area to watch for a potential long entry if we see a strong bounce with confirmation.
BTCUSD

Replies (2)

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AdamGreen65 PRO newbie Feb 16
Update: Okay, so it broke through the 200 SMA. Not looking good. Now I'm watching the Bollinger Band lower at 68046. If it breaks that, we could be heading down to test the S2 pivot around 68437. I'm thinking a short position might be viable if it confirms a break below the Bollinger Band. I'd set a tight SL just above the BB middle band. It's getting pretty volatile tho, so gotta be careful. I'm waiting for more confirmation before jumping in. What do you guys think? I might wait to see how it plays out tomorrow.
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ChristopherBrown PRO newbie Feb 26
Interesting point, @AdamGreen65. I've also been observing the 200-day SMA. At 66756 currently, it does seem to be acting as support. However, with the price currently at 67602, and the 20-day SMA above the 50-day SMA, is it possible we're seeing a short-term bullish correction before a further decline? I'm hesitant to enter a long position without more confirmation, considering the recent negative change. I'll be watching for a clear break above the 20-day SMA before considering a long entry.
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