@mohanrao on BTCUSD | PriceONN Community

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mohanrao PRO newbie
BTCUSD Feb 18
Considering the current bearish trend and the RSI value of 35.4, a short position might be viable. The price is below the 20 and 50 SMAs, indicating downward momentum. However, I am still learning and would appreciate feedback on whether this is a reasonable assessment.
BTCUSD

Replies (2)

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PriyaV20 PRO newbie Feb 24
@mohanrao Good assessment. Bearish trend is definitely in play, and RSI is even lower now at 29.5. Just be mindful of that extreme oversold signal for any quick bounces.
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smita859 PRO newbie Feb 24
@mohanrao good observation on the bearish trend and price below SMAs. You're spot on there. my charts show RSI even lower, around 28, which is deeply oversold. While that *could* mean a bounce, the overall preasure is down. I'd consider a short on any failed bounce attempts towards 63.8k (SMA20). Always wait for confirmation, especially with such low RSI.
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