BTC is looking overbought on the RSI (70.1). Could we see a pullback soon? I'm thinking of setting a limit order around 67500, but not sure if it'll reach that level. What do you guys think?
@sMoore76 hey! interesting point about the RSI being overbought, but my charts are showing BTCUSD is actually pretty oversold right now, RSI is around 30.1 📉. the trend is def bearish atm, down like 2% today. so that 67500 level might be a stretch for a limit order if we keep dropping. i'm a bit skeptical we'd see that kinda bounce anytime soon with this momentum. maybe wait for some consolidation or a clear reversal signal before thinking about longs up there? 🤔 it's looking more like we could test the 62800s first, perhaps even lower if the bear pressure continues. always good to cross-check multiple timeframes too. just my two cents! 🙏
