$BTC
📉 BTC Price Dipping Again – What’s Next? 🧐
As of now, BTC is trading at $118,872, after hitting a low of $117,412 in the last 24h. The market is showing clear bearish momentum with strong red candles and RSI hovering around 16.5 – indicating extreme oversold conditions.
🔍 Key Indicators:
MACD: Still negative, showing continuing downward pressure.
RSI (6): 16.5 — we are deep in the oversold zone.
Volume: High selling pressure, but could signal a possible bounce soon.
💡 My Personal Take: We might see a small relief bounce if the RSI levels start climbing, but without confirmation from volume and MACD, it's still risky to go long. Be cautious and manage your leverage carefully if you're scalping this dip.
📌 Let me know your view in the comments — do you think BTC will bounce back above $120K soon or head further down?