At this level, bulls and bears are already arguing. $BTC is quoted at 76,031.1, just a step away from the 14-day low of 74,888.0, and the RSI has slipped to 37.3.
Put simply: after grinding lower all the way from the 14-day high, it now feels like we’re standing on the edge of a cliff—no one dares to chase it higher, and no one dares to catch it on the way down. An RSI of 37.3 shows the drop has been sharp and relentless. It may be a little oversold in the short term, but oversold doesn’t mean the decline is over.
I’d rather sit tight and watch for now, because until 74,888.0 breaks, it’s too early to say it’s about to collapse. But if it really does break below 74,888.0, I’ll change my mind immediately and take another look lower.
With the RSI down to 37.3, do you think it’ll bounce first, or do you think the trend will keep moving lower?
$BTC
#BTC #MarketAnalysis
Put simply: after grinding lower all the way from the 14-day high, it now feels like we’re standing on the edge of a cliff—no one dares to chase it higher, and no one dares to catch it on the way down. An RSI of 37.3 shows the drop has been sharp and relentless. It may be a little oversold in the short term, but oversold doesn’t mean the decline is over.
I’d rather sit tight and watch for now, because until 74,888.0 breaks, it’s too early to say it’s about to collapse. But if it really does break below 74,888.0, I’ll change my mind immediately and take another look lower.
With the RSI down to 37.3, do you think it’ll bounce first, or do you think the trend will keep moving lower?
$BTC
#BTC #MarketAnalysis