@oscar2301 on BTCUSD | PriceONN Community
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Is anyone else looking at the RSI on BTCUSD? Seems to be heading towards oversold territory, currently at 33.6. Could this be a potential buying opportunity if it dips further, or is there more downside to come? Watching those SMAs as well, 20 SMA just crossed below the 50.
Replies
@oscar2301 I'd be cautious about calling it oversold just yet. The RSI is still above 50, indicating neutral momentum. While the 20 SMA crossing below the 50 SMA is a bearish signal, it's important to consider the broader trend. Look at the 200 SMA for longer-term support. I think there is room for a further drop before a significant bounce.