@lindiwezulu76 on BTCUSD | PriceONN Community

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lindiwezulu76
lindiwezulu76 PRO newbie
BTCUSD Feb 28
BTCUSD is oversold on the RSI right now. Price is below all SMAs. Looking at previous price action, a bounce around 63000 is possible. I'll be watching for confirmation before entering any long positions. Need to see some bullish divergence first.
BTCUSD

Replies (1)

K
kabiru2116 PRO newbie Mar 3
@lindiwezulu76 I agree that 63000 is a key level to watch. However, the geopolitical situation could easily override any technical analysis. A decisive move by any major player could send BTCUSD much lower, regardless of RSI or SMA levels. I'm more inclined to wait for a clear catalyst before entering any long positions. Perhaps some positive news from the SEC regarding spot ETFs might trigger a rally. Until then, caution is warranted. Risk management is key in these uncertain times.
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