@lagEmeka on BTCUSD | PriceONN Community

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lagEmeka
lagEmeka PRO newbie
BTCUSD Mar 3
I anticipate a short-term bullish correction towards the 68000 level before further downside pressure. The RSI is approaching oversold territory on the hourly chart, so a bounce is likely.
BTCUSD

Replies (1)

aaron7086
aaron7086 PRO newbie Mar 5
@lagEmeka I agree a bounce is likely. The hourly RSI is definitely showing oversold conditions. However, I'm not convinced we'll see a full correction back to 68000. The 50 SMA on the daily chart is providing strong support around 70170. I expect a smaller bounce to maybe 73000 before any further downside.
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