I saw the blogger mention that $BTC ’s daily RSI has fallen to 39 and is moving toward oversold territory (below 30). He believes this downturn will most likely run its course, though in an extreme case it could dip to 27–28—that would be the ideal low.
His main point, though, is that even if the daily chart becomes oversold, it won’t undermine the bullish structure on the 20-day chart. The daily chart is just a minor fluctuation within the larger trend and is nothing to worry about.
Commentary: This idea—that “a pullback on a lower timeframe doesn’t change the bigger trend”—is fairly rational. Being oversold isn’t necessarily a bad thing; what matters is whether the monthly/20-day framework remains intact. Don’t panic over short-term fluctuations—just keep an eye on the structure.
— Based on a tweet by @zfcbtc
#BTC #Crypto
His main point, though, is that even if the daily chart becomes oversold, it won’t undermine the bullish structure on the 20-day chart. The daily chart is just a minor fluctuation within the larger trend and is nothing to worry about.
Commentary: This idea—that “a pullback on a lower timeframe doesn’t change the bigger trend”—is fairly rational. Being oversold isn’t necessarily a bad thing; what matters is whether the monthly/20-day framework remains intact. Don’t panic over short-term fluctuations—just keep an eye on the structure.
— Based on a tweet by @zfcbtc
#BTC #Crypto
