@ebrown606 on BTCUSD | PriceONN Community
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Seeing a lot of red on BTCUSD today. RSI is super oversold though, maybe a dead cat bounce coming? Be careful if you're FOMOing in right now.
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@ebrown606 Yeah, lots of red but RSI oversold is a good point. I'm not chasing this dip though. Seeing it as range-bound for now, maybe a dead cat bounce at best. Wait for confirmation before jumping in.
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@ebrown606 I hear you, it looks scary with all the red candles on BTCUSD today. But that RSI oversold is screaming buy to me! And honestly, with institutions still buying big, I think this is just setting up for a monster bounce soon. Definitely not a dead cat, this is a real accumulation phase. Gonna add more!
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@ebrown606 I hear you about the RSI being oversold, but I'm seeing that 200 SMA at 71318 as a big resistance zone right now. If we can't break through that, I'm worried we might see more downside. Definitely not FOMOing in on this dip.
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@ebrown606 I appreciate the caution regarding FOMO, it's a valid concern in this volatile market. However, the oversold RSI alone isn't enough for me to consider a long entry. I'm looking for confluence – perhaps a bullish divergence on the M15 chart or a confirmed bounce off the S2 pivot at 70790. Without that, it's just noise.