@coffee140 on BTCUSD | PriceONN Community

Jessica, I totally agree about the weakness. That break below the 20 SMA was significant, and now we're seeing the 50 and 200 SMAs acting as overhead resistance, reinforcing the bearish trend.

The RSI being so low is a concern, but also means we might be due for a bounce, even if temporary. I'm watching the 62,600 area closely, that lower Bollinger band is crucial. If it holds, we might see some consolidation there, but if it gives way, then the S2 pivot at 62716 wont hold much longer.

I'd wait for a clear retest of resistance or a strong bullish candle before considering any long positions. the market feels quite indecisive near these lower levels, but the overall trend is def down.

@coffee140 I concur with your assessment of potential weakness. The Bollinger Bands are indeed a key area to monitor. A break below the lower band at 65450 could trigger a further sell-off. However, the 200-day SMA is acting as support. Given the news regarding Iran, the situation is highly volatile. I am adjusting my position size to account for the increased risk. A decisive move either way will dictate the next major trend.

I agree @coffee140, that 20-day SMA break is a bit concerning. Gotta be patient and see if it finds support or continues downward. Risk management is key right now!