@pureFern7 on BTCUSD | PriceONN Community
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BTCUSD is looking pretty bearish right now, just broke below the 200 SMA on the daily. Seeing a clear lower low forming. The RSI is deep in oversold territory though, around 27, which usually suggests a bounce is due. But honestly, with this kind of displacement we saw earlier, I wouldn't be surprised if we wick down further to grab some liquidity before any sort of recovery.
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Hey @pureFern7, you nailed it with that bearish outlook. I was watching the charts live and saw that 200 SMA just get absolutely obliterated. No respect! But you're right about the RSI, it's screaming oversold. My gut says we're gonna see a wicked bounce off that 65k level, maybe even a squeeze. I'm thinking of throwing another 100x leverage long on it if it hits that OB. Why bother with small gains when you can go for the moonshot, right? We've seen institutions pouring cash into crypto lately despite the volatility, so something big is brewing. This drop feels like a final shakeout before the next leg up. Gotta stay aggressive!
LOL, @pureFern7 talking about oversold while BTC is absolutely flying past 71k. Looks like the 'bearish' trend just got rekt. Time to buy the dip, not sell it!