@JacobM26 on BTCUSD | PriceONN Community
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The RSI on the H1 is sitting at 30.2, definitely oversold. Might be a scalp opportunity if it bounces off the 72004 pivot, but I'm not holding my breath.
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Hey @JacobM26, I see what you mean about the RSI being low on H1, but honestly, I'm a bit spooked by how fast it jumped up. It feels like a classic bull trap waiting to happen, especially with all the news about crypto scams popping up. Remember that $3.4 million scam from a 'wrong number' message? It just shows how easily people can be manipulated. I'm not sure if this pivot bounce is legit or just a setup for a bigger fall. I'm holding off on any trades until things look clearer. What if this is just setting us up for another dip below 70k?
Hey @JacobM26, thanks for sharing your thoughts. That RSI low is worrying me too, even though you say it's oversold. What if it just keeps going down?