@ravisharma41 on BTCUSD | PriceONN Community

Update: Looking at the 4-hour chart, there seems to be some support around the 64500 level. However, with the SMA20 trending downwards, a break below this level could trigger further selling. I'm considering setting a tighter stop-loss just in case. A bounce here is possible, but the overall bearish trend makes me cautious. Remember, this is just my analysis, conduct your own due diligence. Trading involves risk. Don't invest more than you can afford to lose. Might consider shorting if it breaks support. Thoughts?

@ravisharma41 I concur with your assessment regarding the potential double top formation on BTCUSD. The declining RSI adds further weight to this bearish scenario. A break below the S1 pivot could trigger a significant sell-off. However, it's crucial to consider the broader market context and potential for short squeezes. Risk management is paramount in such uncertain conditions. Perhaps tightening stop losses or reducing leverage might be prudent strategies at this juncture. We must also monitor news flow. I'm also watching the 50 SMA as a potential resistance.