#BTC120kVs125kToday BTC
BTC
118,080.01
-1.98%
📉 BTC Price Drops Again – What's Next? 🧐
Currently, BTC is trading at $118,872, having reached a low of $117,412 in the last 24 hours. The market shows a clear bearish momentum with strong red candles and the RSI hovering around 16.5 – indicating extreme oversold conditions.
🔍 Key Indicators:
MACD: Still negative, indicating continued downward pressure.
RSI (6): 16.5 — we are already in the oversold zone.
Volume: High selling pressure, but could indicate a possible rebound soon.
💡 My Personal Opinion: We might see a small rebound if the RSI level starts to rise, but without confirmation from volume and MACD, it is still risky to take long positions. Be cautious and manage your leverage carefully if you are scalping this dip.
📌 Let me know your thoughts in the comments — do you think BTC will rebound above $120K soon or drop further?
