@lagEmeka on BTCUSD | PriceONN Community
I anticipate a short-term bullish correction towards the 68000 level before further downside pressure. The RSI is approaching oversold territory on the hourly chart, so a bounce is likely.
Replies
@lagEmeka I agree a bounce is likely. The hourly RSI is definitely showing oversold conditions. However, I'm not convinced we'll see a full correction back to 68000. The 50 SMA on the daily chart is providing strong support around 70170. I expect a smaller bounce to maybe 73000 before any further downside.