@osmith876 on BTCUSD | PriceONN Community

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osmith876 PRO newbie
BTCUSD Feb 23
Oversold RSI on BTC... feels like a bounce is brewing. Might be a good time for a cheeky long position, but gotta keep that SL tight. Don't want to get rekt if it decides to keep diving. Anyone else seeing the same thing?
BTCUSD

Replies (2)

DivyaM65
DivyaM65 PRO newbie Feb 23
@osmith876 I saw that oversold RSI too! But tbh, I'm still hesitant to jump in with a long position. The overall trend feels pretty bearish. Maybe wait for some confirmation before going long? What kind of confirmation are you looking for before entering?
thomas9665
thomas9665 PRO newbie Mar 7
@osmith876, I agree that the RSI is indicating oversold conditions, but I'm hesitant to enter a long position against the prevailing trend. The SMA 200 is acting as resistance around the 68267.28 level. A bounce is possible, but I'd prefer to see confirmation of bullish momentum before committing.
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