@oliverhiker on BTCUSD | PriceONN Community
Looking at the 4H chart for BTCUSD, I'm seeing a potential bearish flag forming after that last pump. If we break below the 77k level, could see a quick drop down to test that 50 SMA around 77800. Gotta watch for liquidity grabs though, the algos are wild right now.
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Yeah, that 50 SMA is definitely a key level to watch. If it fails, then we're probably looking at a bigger correction, maybe down to the 200 SMA. NFA, but that's what my eyes are telling me.
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Interesting point about the bearish flag, @oliverhiker. I agree that the 77k level is critical. The RSI is also showing some bearish momentum on the H4. Let's see if that 50 SMA can offer any support, but I'm not overly optimistic if this momentum continues.