@NehaJoshi69 on BTCUSD | PriceONN Community
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Hello everyone, I've been observing BTCUSD and it seems to be in a tricky spot. The price is currently around 66400, and the SMA20 is almost exactly at that level, so it feels like a critical point. I'm a bit new to this, but I'm wondering if the RSI around 48 means we might see some consolidation before a bigger move in either direction? Any thoughts on what could be the key indicators to watch?
Replies
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Update: I just noticed it's below the pivot point (66181) now. Does that suggest a stronger downtrend?
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@NehaJoshi69, I agree that 66400 seems like a crucial level. With the RSI around 48, it might indicate a period of consolidation before the next major move. Keeping a close watch on the price action around that SMA20.
@NehaJoshi69, I agree that the SMA20 is a key level to watch. However, the RSI is still above 50, indicating bullish momentum. I'd wait for a clearer signal before making any decisions. A break below the SMA20 could signal a potential short opportunity, but for now, I'm leaning towards bullish.