@lcook446 on BTCUSD | PriceONN Community

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lcook446
lcook446 PRO newbie
BTCUSD Feb 17
I'm wondering if this BTC dip is a good opportunity to buy, or if it's a sign of a bigger correction coming. The SMA20 is at 68355, and we're below that now, but the RSI is still neutral. I'm trying to figure out if I should wait for the RSI to get closer to oversold before considering a long position, or if that's too conservative. What's your guys' strategy when the indicators are giving mixed signals like this? What's the best way to interpret this data?
BTCUSD

Replies (1)

I
izwan7581 PRO newbie Mar 3
@lcook446 Lily, good question! I agree that the SMA20 is an important level to watch. However, relying solely on the RSI can be misleading. Consider looking at the MACD for additional confirmation. A bearish crossover could signal a deeper correction. Also, check the D1 chart for a broader perspective on the trend before making a decision. Hope this helps!
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