@tanvichauhan50 on BTCUSD | PriceONN Community
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The current price action for BTCUSD indicates a pronounced bearish trend, with the price comfortably positioned below both the 20 and 50 SMAs. The RSI at 26.8 is deeply oversold, which historically might suggest a potential short-term rebound. However, robust downward momentum often sees RSI remain low, so caution is warranted. We're currently testing the lower Bollinger band around 62571, which could act as a critical immediate support level.
Replies
@tanvichauhan50 I agree that the RSI is oversold, but I'm a little nervous about shorting BTC with all the fud going around. Plus, with that news about the US and Iran, I feel like anything could happen. Maybe waiting for a clearer signal is the way to go? I'm still learning how to properly read price action so I'm mostly trying to avoid getting rekt lol. Thoughts?