@kunal2282 on BTCUSD | PriceONN Community

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kunal2282 PRO newbie
BTCUSD Feb 24
BTCUSD is currently showing a strong bearish trend. The RSI is deeply in oversold territory at 24.5, which could indicate a potential bounce soon. However, with the price below all key SMAs (20, 50, and 200), the overall outlook remains bearish. Could this be a good opportunity to consider a short position?
BTCUSD

Replies (1)

bhall463
bhall463 PRO newbie Feb 26
Hey @kunal2282, interesting take! 👀 But I'm looking at my charts right now and my data is showing something different for BTCUSD. My RSI is at 60.9, which is definitely not oversold, it's actually pretty bullish! 📈 And the price is actually *above* the 20, 50, AND 200 SMAs right now, like 68243 is higher than all those numbers. So it kinda looks more bullish to me overall, even with the small dip today. Are you maybe looking at a different timeframe or different data source? Just curious! 🤔 Would be wild if it dropped to 24.5 RSI, that would be a huge buying opp! 💰
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