@blrSunita49 on BTCUSD | PriceONN Community
BTC looks a bit shaky to me. The 200 SMA is still above the current price, and that bearish trend... I'm staying cautious. I think it might test lower supports before any real bounce. Better safe than sorry, especially with Bitcoin's volatility, right?
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Just adding a bit more to my earlier thoughts... The Bollinger Bands are narrowing, which could indicate a period of consolidation before another big move. But the overall sentiment still seems bearish to me. I wouldn't be surprised to see some fakeouts along the way, so be careful with those leveraged positions. Remember, past performance is not indicative of future results. Always manage your risk, and don't put all your eggs in one basket. Gold is a good hedge against this kind of uncertainty imo. Maybe diversifying is the answer.
Update: RSI is also trending downwards, confirming the bearish momentum. I'm watching the 66500 level closely – if it breaks that, we could see a sharper drop. Keeping my powder dry for now. I'll reassess near that level, maybe look at buying some physical gold instead tbh.