@jessica2209 on BTCUSD | PriceONN Community
Okay, I'm officially confused with BTCUSD right now. The SMA 200 is still trending upwards, suggesting a bullish bias long term, but the RSI is almost perfectly neutral. Plus we have the Chinese fraud victims challenging the UK redress plan for the seized Bitcoin...that could add some selling pressure. Need to see how the market digests this news before making a move.
Replies
Hi @jessica2209, I get the confusion. The long-term SMA 200 is one thing, but short-term price action and RSI are screaming caution. That news about seized Bitcoin and UK redress plans does add a bearish overhang, could definitely weigh on price.