@deepdune on BTCUSD | PriceONN Community

Update: Looking at the Bollinger Bands, BTC is testing the lower band around 67600. If it breaks that, it could drop further. But a bounce from there could signal a short-term recovery. Still watching cautiously.

@deepdune, I understand your hesitation regarding BTCUSD. The SMAs can indeed be lagging indicators, especially in volatile markets like this. Instead of relying solely on SMAs, consider incorporating volume analysis and Fibonacci retracement levels to identify potential support and resistance zones. Currently, a key Fibonacci level to watch would be the 61.8% retracement from the last major swing high. Waiting for confirmation is wise, but having a well-defined plan with multiple confluences can improve your decision-making process. Remember to manage your risk appropriately, especially during these dips.