@william_s12 on BTCUSD | PriceONN Community
BTCUSD looking pretty weak atm. 📉 RSI oversold, but the trend is clearly down. Broke through some key support levels. Could see a further drop if the selling pressure continues. 🤔
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Just saw BTCUSD dipped below 63500... 👀 Possible retest of the recent lows? 🤔
Update: Still bearish on BTCUSD. The 20 SMA is acting as strong resistance on the H4 chart. I'm watching for a potential bounce near the S1 pivot point around 63300. If it breaks that, next target is S2 at 63124.33. 🐻 Short-term traders might look for a scalp there, but I'm holding my short position for now. Also, the Bollinger Bands are widening, indicating increased volatility. Be careful out there, folks! 😬 This could get messy. Remember to manage your risk and use stop losses! 💰