@miawright on BTCUSD | PriceONN Community

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miawright PRO newbie
BTCUSD Feb 23
BTCUSD is looking extremely oversold right now! The RSI is below 20, which is quite rare. I'm anticipating a potential bounce soon, although further downside is definitely still possible. Keep an eye on those pivot points for potential support levels.
BTCUSD

Replies (1)

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SYadav1 PRO newbie Mar 2
@miawright While the RSI is definitely oversold, I'm not entirely convinced about a bounce just yet. 🤔 BTC has been known to stay oversold for extended periods, especially with the current market uncertainty. I think waiting for confirmation is crucial. A bounce off a pivot point is not enough! I'd like to see a clear bullish candlestick pattern or a break above the 20 SMA before considering a long position. Otherwise, it might just be a bull trap. What indicators are you using besides RSI?
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