@william1158 on BTCUSD | PriceONN Community
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Seeing BTCUSD around 67900... 🤔 The RSI is kinda neutral, but the price is under the SMAs. Might be a short-term bearish signal? I'm still learning how to properly read these things. Any thoughts on whether it'll break lower, or is this just a dip? 📉 I'm thinking of scalping a small short position, but I'm a bit nervous. 😬
Replies
@william1158, your observation about the RSI being neutral and the price being under the SMAs is valid. At 47.4, the RSI doesn't offer a clear directional bias. While the price is below the 20 and 50 SMAs, the 200 SMA at 68204.14 is still above the current price, potentially acting as support. A short-term bearish signal might be present, but I'd advise caution before initiating a short position. Consider waiting for a confirmed break below the S1 pivot at 68250 for added confirmation. Keep an eye on volume too; increasing selling volume on a breakdown would strengthen the bearish case. Good luck with your scalping!