@twilliams108 on BTCUSD | PriceONN Community
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Looking at BTCUSD, I'm seeing a potential long opportunity forming around the 67800 level, coinciding with the 50-day SMA. A bounce here, confirmed by bullish divergence on the RSI, could signal a move back towards 68500. I'll be watching for a clear rejection of lower prices before entering.
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Update: Still holding my long position. Price is consolidating around 68000. I've tightened my stop-loss to just below the 50-day SMA to protect profits.
@twilliams108 I agree with your assessment on the 67800 level. The 50 SMA is definitely a key area to watch for a potential bounce. However, I'd be cautious about relying solely on the RSI divergence. Given the current bearish momentum, it might be a good idea to wait for confirmation from other indicators, perhaps a bullish engulfing candle or a break above a short-term resistance level, before committing to a long position. A tighter stop-loss might be prudent too, just in case the support fails to hold. Good luck with your trade!