@michellemiller96 on BTCUSD | PriceONN Community

Interesting point, @michellemiller96, regarding the oversold RSI. I agree that a short-term correction is plausible. However, initiating a long position near S2 pivot at 65802 requires caution. The prevailing trend suggests bearish momentum could easily override the oversold signal. Moreover, the increased volatility could lead to whipsaws, potentially triggering your stop-loss. Perhaps waiting for a confirmation signal, such as a bullish divergence or a breakout above a key moving average, before entering long would be prudent. Risk-reward ratio needs to be carefully assessed in this scenario.