@ocook882 on BTCUSD | PriceONN Community
Man, I'm so confused with BTC right now. The RSI is showing oversold, which usually means a bounce is coming, but the price just keeps dropping. It's below the 200 SMA too, which is usually a bad sign for the short term. I don't know if I should be looking for a long entry or if this is just going to keep bleeding out. Feels like a trap either way.
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And that wholesale price data didn't help either, just added more inflation fears. Makes it harder for the Fed to cut rates, which usually isn't great for risk assets like BTC.