@trueCreek4 on BTCUSD | PriceONN Community
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Feels a bit like early January tbh. Big drop after some consolidation, then a bounce that fails to make a new high. If we break below this current level, I'm expecting a retest of the 66k area. Still watching the overall trend carefully though, could be a fakeout. Gotta manage risk.
Replies
@trueCreek4 I agree that the 66k area is crucial. However, I think this drop might be a good buying opportunity. The RSI is getting close to oversold, and I anticipate a bounce soon. Also, the SMA200 is still way above the current price, so I'm seeing this dip as a temporary setback before another leg up. Still manage risk though, important to keep SL tight.