Bitcoin is showing classic signs of oversold conditions on the daily timeframe! 🚨
Current price hovering around $68,277 after a sharp drop from recent highs near $70K+. We're seeing:
Price sitting below all major EMAs (8/13/21) – bearish pressure still in play
RSI(14) at 35.4 (deep oversold territory, close to bounce zone)
Stochastic oscillator showing potential crossover upward (K:53.5, D:52.2)
Volume picking up on the lower wick – buyers stepping in?
This setup screams potential short-term reversal after the recent bleed. Bears are exhausted, and dip buyers could push us back toward $70K+ resistance.
TRADE IDEA – LONG
$BTC /USDT NOW!
Entry: around current levels (~$68,200–$68,300)
Take Profit 1: $70,000 (first resistance, ~2.5% gain)
Take Profit 2: $71,500 (stronger target near EMA cluster)
Stop Loss: $67,000 (below recent low & round number protection, risk ~1.8–2%)
Risk-reward looking solid 1:2+ here. Perfect for a quick swing or scalp if momentum flips green!
Bitcoin remains the king – don't miss the bounce! 💪📈 Who's loading up on this dip? Drop 🔥 if you're in!
Follow & turn 🔔 on for more high-probability setups! Let's catch these moves together ✅
#Bitcoin #BTC #BTCUSDT #CryptoTrading #Binance #BitcoinPrice #Crypto #Altseason #TradingView #BullRun