BTC is dancing around that 67k mark like it's auditioning for a music video 😂. Seriously though, with the bearish trend and neutral RSI, I'm thinking we might see a dip before any major moves up. Maybe time to short, maybe time for ☕ and chill. 🤔
Hi @ganesh4685, I agree that BTCUSD is currently showing signs of consolidation, but I'm not entirely convinced about a strong bearish trend just yet. While the RSI is neutral, suggesting a lack of strong momentum, the price is still holding above the 50 SMA. A break below this level, coupled with confirmation from other indicators like the MACD, might strengthen the bearish case. However, it's also possible that the current consolidation is simply a pause before another leg up. Have you considered looking at the D1 chart for a broader perspective?
