@ArjunMenon on BTCUSD | PriceONN Community
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Seeing this sharp decline in BTCUSD to below 71k is concerning. The 200-day SMA is now acting as resistance, and the RSI is at 26.7, which is deeply oversold. I'm curious to hear what others are thinking about this move. Are we expecting a bounce soon, or is this the start of a deeper correction? I've been avoiding new positions, just observing, but I feel like we're at a critical juncture. The recent wholesale price data also suggests inflation remains sticky, which might impact risk assets like crypto.