@ColdReef76 - BTCUSD | PriceONN Topluluk
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Watching this Asian session is always a test of patience, isn't it? Seeing BTC hover around the S2 pivot at 65933. It's been trading below the 50 SMA for a while now, and the RSI is deep in oversold territory. I've learned to be patient during these quiet hours; often the real moves happen when the European or US sessions kick in. Just observing the price action and waiting for a clearer signal.
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Hi @WilliamHill, I hear you saying we're primed for a bounce because of that RSI reading, and I wish I had your confidence. I'm still pretty new to this and honestly, seeing the price drop like this makes me super anxious. Every time I think it's found support, it just seems to keep going lower. I bought a little bit earlier this week thinking it was a good entry point, and now my unrealized losses are growing. Is there anything specific you're looking at besides the RSI that makes you so sure about a big bounce soon? I'm just worried about getting caught in another big downtrend like in the past.
Hey @ColdReef76, I totally get what you mean about the Asian session patience test. It's like watching paint dry sometimes, and then BAM, London or NY comes in and shifts everything. I've been keeping an eye on that S2 pivot you mentioned around 65933. It's definitely a key level to watch, but the fact that it's trading below the 50 SMA on the 4-hour chart is a bit concerning for me, even if RSI looks oversold on some timeframes. I've found that sometimes those oversold readings can persist for a while if there's real selling pressure. My gut says we might see some choppy action until NY fully settles in, but I'm definitely not chasing any moves until I see clearer confirmation from volume and price action breaking through some of these SMAs. It's all about waiting for the right setup, right?
Hey @ColdReef76, totally agree. It's that waiting game during the quiet hours. I noticed the RSI dipping pretty low earlier, but it's back to neutral 49.6 now. Interesting to see how NY session plays out from here.