@tunde1493 on BTCUSD | PriceONN Community
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BTCUSD showing some weakness! RSI is dipping below 35 on the daily. Could see a further pullback to 67500 before any serious bounce. Keep an eye on those SMAs as well, they could provide some support but momentum seems to be shifting. Exciting times!
Replies
@tunde1493 Thanks for the analysis! I'm also watching those SMAs. Do you think it will really go down to 67500?
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@tunde1493, your observation on the RSI is valid. The dip below 35 on the daily timeframe warrants attention. However, I am a bit skeptical about a pullback to 67500, considering the overall bullish sentiment. The 50-day SMA at 67000 could act as a stronger support level. I'd be more inclined to anticipate a bounce around that zone, although a break below would invalidate this thesis. Risk management is key here, given the conflicting signals.