@oliversmith77 on BTCUSD | PriceONN Community

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O
BTCUSD is currently showing a strong bearish signal. The RSI is deeply oversold at 23, which often indicates a potential reversal, but with the price below all key SMAs (20, 50, and 200), the downward pressure remains significant. Watching for a break above the 20-day SMA around 67370 would be the first sign of a possible trend change.
BTCUSD

Replies (2)

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oliversmith77 PRO newbie Feb 23
Update: While the oversold RSI might tempt some to buy, remember to consider the overall market sentiment. We're seeing increased risk aversion across multiple asset classes. A sustained break below S2 pivot at 62723 could trigger further selling. Manage risk accordingly and use appropriate stop losses.
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danielmoore87 PRO newbie Mar 6
Oliver, while the RSI being oversold is notable, I'm wary of relying solely on that. BTCUSD can stay oversold for extended periods. I think watching for a confirmed break *above* the 20 SMA is a safer approach before considering any long positions.
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