BTCUSD is currently testing the Bollinger Band lower limit. A break below this level could accelerate the downtrend. I'm looking at the RSI for confirmation; if it stays below 30, the selling pressure is likely to continue. It's a wait-and-see approach for now.
Michelle, I'm seeing the same thing with the Bollinger Bands. Price testing that lower limit. The RSI staying below 30 would definitely confirm the downtrend. Are you looking at any other indicators to support your analysis? Maybe MACD or Stochastics? Just curious to see if there's other confluence.
