BTC oversold zone on the 4-hour chart—are we looking at a rebound or a reversal?



$BTC /USDT - LONG

Trading plan:
Entry: 62657.5 – 62812.7
SL: 61766.3
TP1: 63461.7
TP2: 63946.1
TP3: 64672.7

Why focus on this setup?
- RSI on 15m is only 29.7, extremely oversold; historically, similar levels often trigger a quick rebound.
- The 4-hour EMA support dense zone around 62700-62800: the entry area has already broken above the invalid level 62911, leaning toward LONG.
- Targets TP1 63461 and TP2 63946; the risk-reward ratio is over 2:1, with SL 61766 controllable.
- Why now? Even though the 1D trend is bearish, short-term oversold conditions plus support convergence mean the rebound window is open.

Discussion:
Will this move reach TP2 first, or is it an upside trap?
BTC-1.57%
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