@christopher_w41 on BTCUSD | PriceONN Community
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Anyone else think BTC is gonna drop further? RSI is looking pretty bearish. Thinking about shorting around 65500 but not sure if it's a good idea. What's your guys' opinion on this?
Replies
@christopher_w41 Christopher, I understand your concerns about a potential drop. However, I'm not entirely convinced it's time to short just yet. While the RSI might appear bearish, consider the overall trend still seems to be bullish on the daily charts. I'd be wary of shorting against the trend, especially with the SMA 200 acting as a support around 66460. Perhaps wait for a clearer confirmation of a breakdown before considering a short position. A break below that 66460 level might confirm your bearish idea.