Bitcoin Flash Dips Below $110,400 – Opportunity or Warning?
BTC/USDT has dipped to $110,361.50, marking a -0.23% slide with strong red candles forming post 12:24 PM. The RSI has also dropped below 40, signaling potential oversold conditions on the 1-minute chart. Meanwhile, the price continues to trail below the 9-period moving average, suggesting bearish momentum in the short term.
This setup might interest short-term traders eyeing quick scalp opportunities or waiting for a reversal signal for a potential bounce.
What's next?
Watch for a bounce if RSI dips further below 30 or a potential breakdown if volume spikes again on the downside.
Disclaimer:
This is not financial advice. Cryptocurrency trading involves high risk. Always do your own research and consult with a professional before making investment decisions.