@jack5422 on BTCUSD | PriceONN Community

Hey @jack5422, I see what you mean about the 200 SMA and the Bollinger Bands but I'm still kinda nervous. It dropped pretty hard right after you posted. It broke below 77k super fast. I thought it was going higher too but now it looks like it might be heading down towards those lower pivot points you can see on the chart. Are you sure this isn't just a dead cat bounce before it tanks even more?

Hey @jack5422, I see your point on the 200 SMA and the Bollinger Band push, but I'm not so sure about the 'real deal' yet. The price action after your post seemed to confirm @logan2481's worries, breaking below 77k pretty fast. That quick drop below S1 at 75369 as well is concerning. We're seeing a bit of divergence on the H4 RSI too, pointing towards neutral, but the momentum isn't strongly bullish from here. I'm more inclined to wait for a clear reclaim of the 76000 level, maybe even the 50 SMA around 76390, before calling it a real continuation. This Fed rate statement uncertainty is still lingering in the background, not ideal for risk-on assets like BTC.