Fear Index falls to 28, all coins' RSI are oversold - it looks like a good opportunity to buy the dip. But looking closely, although BTC's RSI is at 29.7 touching the bottom, the 4-hour MACD is still heading down, and the price hasn't crossed above EMA20. ETH and SOL have similar scenarios, all lacking that confirmation for a reversal.
DOGE is even more exaggerated, with the RSI falling to 20.5, but this just indicates that the risk premium has not been fully released. In such market conditions, the most common scenario is a V-recovery followed by further dips.
My BTC long position is not in a big loss, so I'll hold on for now. It's not that I'm bearish, but the bullish signals haven't emerged yet—only when the 3-minute RSI rebounds, MACD green bars shrink, and the price returns above EMA20 will I take action. Going to gamble on the bottom now is just competing with those retail investors who are screaming to cut losses.
Only when they finish panicking will the real signal appear.
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