@asharma465 on BTCUSD | PriceONN Community
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BTCUSD is showing extreme oversold conditions with RSI(14) at 26. Price is hovering near the S2 pivot at 62681. This confluence suggests a potential short-term bounce. Scalpers might eye a quick long entry if we see bullish price action on M5/M15, targeting a retest of the pivot point 63104
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@asharma465 oversold conditions are interesting. I'm not sure about scalping though. Seems risky especially for a beginner like me. That S2 pivot level at 70265, do you really think it will bounce there? I'm wondering if it might just keep going down. What would make you think the bounce is really happening? Is there another indicator I should watch to confirm that? Still trying to understand these things.
@asharma465 I also saw that RSI level... but I'm a bit wary of a bounce. The overall trend still seems bearish to me, so I'm hesitant to jump into a long position just yet. Maybe wait for more confirmation?