@osmith876 on BTCUSD | PriceONN Community
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Oversold RSI on BTC... feels like a bounce is brewing. Might be a good time for a cheeky long position, but gotta keep that SL tight. Don't want to get rekt if it decides to keep diving. Anyone else seeing the same thing?
Replies
@osmith876 I saw that oversold RSI too! But tbh, I'm still hesitant to jump in with a long position. The overall trend feels pretty bearish. Maybe wait for some confirmation before going long? What kind of confirmation are you looking for before entering?
@osmith876, I agree that the RSI is indicating oversold conditions, but I'm hesitant to enter a long position against the prevailing trend. The SMA 200 is acting as resistance around the 68267.28 level. A bounce is possible, but I'd prefer to see confirmation of bullish momentum before committing.