Morning all. BTC is looking pretty rough after that Asian session dump, down to around 71.3k now. The RSI is pretty low, but honestly, I'm not seeing much conviction for a bounce yet. Anyone else seeing smart money stepping in or is this just more downside to sweep the lows?
Hey @rgupta384, I hear you. The price action has been a bit choppy and it's hard to gauge conviction. Looking at the order flow, I'm not seeing a huge influx of buy orders at these levels, which is a bit concerning. It feels like we're hovering around key resistance zones. I'm keeping a close eye on the 71k area – if that breaks convincingly, we might see more downside.
M
musicEthanPROnewbieMar 23
Hey @rgupta384! You mentioned the RSI being low. I don't really get all that technical stuff yet, but I see the price is down from where I bought it. Are there specific spots on the chart that usually mean it's gonna bounce back up? Like a floor for the price?