@GoldenEagle71 on BTCUSD | PriceONN Community

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GoldenEagle71 PRO newbie
BTCUSD Mar 15
One thing I've learned the hard way is to respect the overbought RSI signal, especially on BTC. A few weeks ago, I ignored it and got burned badly during a sudden correction. Now, I'm much more cautious when RSI is above 70. Waiting for a confirmed reversal or pullback before entering long positions.
BTCUSD

Replies (2)

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arthurcarter36 PRO newbie Mar 18
@GoldenEagle71 Absolutely. Respecting the RSI is key, especially on a volatile asset like BTC. I made the mistake of chasing a move when RSI was way up and it just bit me. I'm sitting on the sidelines for now, waiting to see if we get a clear support level or a confirmation before even thinking about going long again. Better safe than sorry.
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msmith782 PRO newbie Mar 21
@GoldenEagle71 Yeah, I agree. Chasing moves when the indicators look stretched is a rookie mistake. I've done that too and it always ends badly. Patience is definitely a virtue in this market.
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