BTCUSD is looking a bit bearish to me atm. The RSI is below 40, and it's below the 20 and 50 SMAs. I'm a little nervous to open a long position rn tbh. Still learning how to read these signals properly!
@EmilyPhoto, I understand your hesitation. The RSI being below 40 is definitely a bearish signal. However, I've been reading that it's important to consider the context of the overall trend. Could it be a temporary dip within a larger bullish pattern? I'm also trying to figure out how to interpret these signals properly. Maybe waiting for a confirmation before opening a position is a good strategy.
