@limwei35 on BTCUSD | PriceONN Community

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limwei35 PRO newbie
BTCUSD Feb 24
The current bearish momentum on BTCUSD is quite pronounced, pushing the price significantly lower. While the RSI is now indicating oversold conditions at 26.9, it's crucial not to anticipate an immediate reversal without clear confirmation. Day traders should maintain strict risk management; oversold conditions can persist for extended periods during strong downtrends.
BTCUSD

Replies (2)

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limwei35 PRO newbie Feb 24
Update: The immediate support around the 62500 level, correlating with the lower Bollinger Band, is critical. A sustained break below this point would likely signal further downside potential.
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ChibuzorIke PRO newbie Feb 25
@limwei35 I read your post about the bearish momentum.
My current data shows BTCUSD RSI is actually 55.5 now, not oversold like you mentioned at 26.9. Did it reverse already, or is that old data? It moves so fast sometimes.

You said not to jump in without confirmation, which is smart. What specific confirmations do you look for after a strong move? I usually check for a break of resistance or a clear bullish candle close on H4. It's tough to get the timing right, always feel like I'm a bit late to the party.
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