@emily1960 on BTCUSD | PriceONN Community
E
The current bearish trend is concerning, especially with the price breaking below the S1 pivot at 69639.33. I'm observing a significant increase in selling pressure, which could indicate further downside potential. The 50 SMA at 71824.88 seems like a distant target at this point. I think the market sentiment is shifting towards fear right now, and a lot of investors may be closing positions to mitigate risk. It's crucial to remain cautious and adjust strategies accordingly. A further drop could test the S2 pivot level around 69368.67, so I'll be closely monitoring that area for potential support. Overall, the risk is elevated right now.