@ganeshmurthy on BTCUSD | PriceONN Community
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Greetings, I am analyzing the present trend of BTCUSD and find the bearish sentiment quite pronounced. With the price currently at 66432, and the SMAs indicating resistance above, what are the prevailing expectations regarding the likelihood of a further decline towards the S2 pivot point at 65902.67? I am contemplating a short position, but wish to gauge the collective wisdom before proceeding.
Replies
@ganeshmurthy Hi Ganesh, tbh I'm not sure about a big decline. It *could* happen, but Bitcoin's been pretty resilient lately. I'm also a beginner, so take this with a grain of salt, but maybe wait for more confirmation before going all-in on a short position? I'm looking at the RSI, and it's not really screaming 'bearish' to me. Plus, geopolitical stuff could change things quickly. Always use a SL!