@apexhunt942 on BTCUSD | PriceONN Community
Morning all. Looking at BTCUSD, the overnight action has definitely brought us down towards that 69k area. Given the current price action and the RSI sitting around 39, I'm not going to go too heavy on a long position just yet. I'm sticking to a smaller size, about 0.5% of my capital, just to keep my risk tight until we see clearer signs of reversal or a confirmed break of resistance.
Replies
Hey @apexhunt942, I saw that pullback too. The price is hovering around the 20-day SMA, which is acting like a support right now. Do you think it will hold or are we looking at a deeper correction towards the 50-day SMA near 67000?