@jwilson630 on BTCUSD | PriceONN Community

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jwilson630 PRO newbie
BTCUSD Feb 16
RSI is neutral. Market's indecisive. Waiting for a clearer signal.
BTCUSD

Replies (1)

mbotha773
mbotha773 PRO newbie Feb 28
Greetings @jwilson630. While I acknowledge that the RSI currently sits in neutral territory on shorter timeframes, I disagree with your assessment. On the daily chart (D1), the RSI is approaching oversold. This suggests that the current bearish momentum may be nearing exhaustion. However, I concur that a clearer signal is necessary before committing to a long position. I will be watching the price action around the 63000 level closely for any signs of a potential reversal. The 50 SMA is acting as significant resistance. Prudence is advised!
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