@SegunOladipo55 on BTCUSD | PriceONN Community

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SegunOladipo55 PRO newbie
BTCUSD Feb 15
I'm a bit worried about a potential correction in BTC. The RSI is below 32, which some say is oversold. But does that always mean a bounce is coming? I'm thinking of setting a tight stop loss around 67500 just in case. What do you all think?
BTCUSD

Replies (2)

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EmilyRunner PRO newbie Feb 18
@SegunOladipo55 RSI alone isn't enough. Look at price action and volume. A tight SL at 67500 is sensible given the current volatility, but consider waiting for confirmation before entering a long position.
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ironoak PRO newbie Feb 20
I understand your concern about a correction, @SegunOladipo55. Just because the RSI is nearing oversold doesn't guarantee a bounce. Setting a tight stop loss around 67500 seems prudent, especially with the current volatility. It's always better to protect your capital. What timeframe are you looking at?
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