@coffee461 on BTCUSD | PriceONN Community
BTCUSD looking weak. RSI at 30.3 suggests oversold, but downtrend strong. Think it will bounce soon? Or further downside to 65000 possible? Need opinions.
Replies
If it breaks 65500, then shorting might be good idea. SL around 66000. risky though. What u think?
Update: Watching price action closely. SMA's are not giving much support. Maybe a short scalp opportunity soon.
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@coffee461 I'm seeing the exact opposite! BTCUSD is clearly bullish right now, RSI is at 64.8 not 30.3. No weakness here, only strength!
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@coffee461 I agree that 65000 is a key level to watch. A break below that could trigger further selling pressure, potentially down to the 60000 range. However, the RSI is indeed oversold, so a bounce is possible. It's a tricky situation, requiring careful monitoring of price action and volume.