@YogaNeha on BTCUSD | PriceONN Community

I'm finding it really difficult to reconcile the current price action with the indicators. We've just seen a massive drop on BTCUSD down to the 69k level, pushing the RSI deep into oversold territory at 24.5. This should theoretically signal a bounce. However, the 50-day SMA is still way up at 72534, and even the 200-day SMA is above current price. The Bollinger Bands are also widening considerably, indicating increased volatility. Furthermore, the news about the Iran war is creating a risk-off sentiment in broader markets, which is clearly affecting crypto. I'm not sure if this oversold RSI is a reliable buy signal right now, or if we're just heading for a further breakdown towards that S2 pivot at 69692.